Bank of Montreal Can grew its position in shares of Frontier Communications Corp (NASDAQ:FTR) by 1,812.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,084 shares of the utilities provider’s stock after buying an additional 124,229 shares during the quarter. Bank of Montreal Can owned approximately 0.12% of Frontier Communications worth $313,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of FTR. LPL Financial LLC bought a new stake in shares of Frontier Communications during the third quarter valued at approximately $103,000. Caxton Associates LP bought a new stake in shares of Frontier Communications during the third quarter valued at approximately $121,000. Meeder Asset Management Inc. grew its stake in shares of Frontier Communications by 159.7% during the fourth quarter. Meeder Asset Management Inc. now owns 30,003 shares of the utilities provider’s stock valued at $72,000 after purchasing an additional 18,451 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Frontier Communications by 18,950.0% during the third quarter. Nisa Investment Advisors LLC now owns 38,100 shares of the utilities provider’s stock valued at $247,000 after purchasing an additional 37,900 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in shares of Frontier Communications by 28.7% during the third quarter. Texas Permanent School Fund now owns 66,576 shares of the utilities provider’s stock valued at $432,000 after purchasing an additional 14,854 shares during the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on FTR. Zacks Investment Research raised shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Tuesday, November 20th. Royal Bank of Canada set a $5.00 price target on shares of Frontier Communications and gave the company a “hold” rating in a research note on Monday, November 19th. UBS Group cut shares of Frontier Communications from a “neutral” rating to a “sell” rating and decreased their price target for the company from $6.00 to $3.00 in a research note on Wednesday, November 7th. Citigroup decreased their price target on shares of Frontier Communications from $4.50 to $2.75 and set a “sell” rating on the stock in a research note on Wednesday, November 21st. Finally, BidaskClub raised shares of Frontier Communications from a “sell” rating to a “hold” rating in a research note on Wednesday. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Frontier Communications has a consensus rating of “Hold” and a consensus price target of $3.97.
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About Frontier Communications
Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper based networks to consumer customers. The company also provides broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.
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