Vanguard Group Inc. Raises Stock Position in Forestar Group Inc. (NYSE:FOR)

Vanguard Group Inc. raised its holdings in Forestar Group Inc. (NYSE:FORFree Report) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,777,578 shares of the oil and gas exploration company’s stock after purchasing an additional 15,729 shares during the quarter. Vanguard Group Inc. owned 5.57% of Forestar Group worth $91,855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its stake in shares of Forestar Group by 1,601.6% in the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock worth $28,000 after buying an additional 977 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Forestar Group during the 4th quarter valued at approximately $35,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Forestar Group by 88.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock valued at $147,000 after purchasing an additional 2,077 shares during the period. Quest Partners LLC purchased a new stake in Forestar Group during the fourth quarter worth $168,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in Forestar Group during the fourth quarter valued at $226,000. 35.50% of the stock is owned by institutional investors and hedge funds.

Forestar Group Price Performance

Shares of NYSE FOR opened at $29.88 on Monday. The firm has a market cap of $1.51 billion, a PE ratio of 7.43 and a beta of 1.77. The firm has a fifty day moving average of $32.66 and a 200 day moving average of $33.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.85 and a current ratio of 1.85. Forestar Group Inc. has a one year low of $21.88 and a one year high of $40.92.

Forestar Group (NYSE:FORGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $333.80 million during the quarter, compared to analyst estimates of $345.60 million. Forestar Group had a net margin of 12.99% and a return on equity of 14.59%. As a group, research analysts predict that Forestar Group Inc. will post 3.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Citigroup lowered their price target on Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd.

View Our Latest Report on Forestar Group

Insider Activity

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of Forestar Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the transaction, the director now owns 7,951 shares in the company, valued at approximately $249,502.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Anthony W. Oxley bought 3,210 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were bought at an average price of $31.15 per share, with a total value of $99,991.50. Following the completion of the transaction, the chief executive officer now directly owns 3,210 shares in the company, valued at $99,991.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the transaction, the director now owns 7,951 shares in the company, valued at $249,502.38. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

About Forestar Group

(Free Report)

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.

Further Reading

Institutional Ownership by Quarter for Forestar Group (NYSE:FOR)

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