Dimensional Fund Advisors LP increased its holdings in Forestar Group Inc (NYSE:FOR – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,805,806 shares of the oil and gas exploration company’s stock after acquiring an additional 30,347 shares during the period. Dimensional Fund Advisors LP owned about 5.50% of Forestar Group worth $68,573,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of FOR. Assenagon Asset Management S.A. grew its holdings in shares of Forestar Group by 5.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 9,946 shares of the oil and gas exploration company’s stock valued at $245,000 after acquiring an additional 500 shares in the last quarter. Comerica Bank raised its holdings in shares of Forestar Group by 76.5% during the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 550 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Forestar Group by 1,206.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 917 shares during the last quarter. First Trust Advisors LP grew its stake in Forestar Group by 0.6% in the second quarter. First Trust Advisors LP now owns 160,204 shares of the oil and gas exploration company’s stock valued at $3,204,000 after purchasing an additional 952 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Forestar Group in the fourth quarter valued at about $27,000. 35.50% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Forestar Group in a research report on Wednesday, July 22nd. Weiss Ratings cut Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Forestar Group presently has an average rating of “Hold” and a consensus price target of $32.67.
Forestar Group Trading Down 2.3%
Forestar Group stock opened at $28.10 on Friday. Forestar Group Inc has a one year low of $22.81 and a one year high of $32.06. The company’s fifty day moving average price is $29.13 and its two-hundred day moving average price is $27.61. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.44 and a beta of 1.39.
Forestar Group (NYSE:FOR – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). Forestar Group had a return on equity of 9.42% and a net margin of 9.88%.The company had revenue of $407.00 million during the quarter, compared to analyst estimates of $437.73 million. During the same period in the prior year, the firm earned $0.65 EPS. Forestar Group’s quarterly revenue was up 4.2% on a year-over-year basis.
About Forestar Group
Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.
In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.
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