Public Employees Retirement Association of Colorado Has $111,000 Stake in Forestar Group Inc. (NYSE:FOR)

Public Employees Retirement Association of Colorado decreased its position in Forestar Group Inc. (NYSE:FOR) by 14.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,462 shares of the oil and gas exploration company’s stock after selling 578 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Forestar Group were worth $111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FOR. EMG Holdings L.P. acquired a new position in shares of Forestar Group in the second quarter worth $911,000. First Eagle Investment Management LLC acquired a new stake in shares of Forestar Group during the 2nd quarter valued at about $6,592,000. Denali Advisors LLC lifted its holdings in shares of Forestar Group by 7.9% during the 2nd quarter. Denali Advisors LLC now owns 141,727 shares of the oil and gas exploration company’s stock valued at $4,534,000 after buying an additional 10,425 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Forestar Group by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,080 shares of the oil and gas exploration company’s stock valued at $4,929,000 after buying an additional 7,180 shares during the last quarter. Finally, Sierra Summit Advisors LLC lifted its holdings in shares of Forestar Group by 2.2% during the 2nd quarter. Sierra Summit Advisors LLC now owns 17,166 shares of the oil and gas exploration company’s stock valued at $549,000 after buying an additional 370 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Insiders Place Their Bets

In other Forestar Group news, Director Elizabeth Parmer sold 1,547 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total transaction of $49,875.28. Following the completion of the transaction, the director now directly owns 1,548 shares of the company’s stock, valued at $49,907.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 3,095 shares of company stock worth $97,127. Corporate insiders own 0.49% of the company’s stock.

Forestar Group Stock Up 1.1 %

FOR stock opened at $32.56 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.50 and a quick ratio of 1.50. Forestar Group Inc. has a fifty-two week low of $22.71 and a fifty-two week high of $40.92. The stock has a market capitalization of $1.65 billion, a P/E ratio of 8.10 and a beta of 1.76. The business has a 50-day moving average of $30.81 and a 200-day moving average of $32.87.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). The firm had revenue of $318.40 million during the quarter, compared to the consensus estimate of $370.50 million. Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. On average, sell-side analysts anticipate that Forestar Group Inc. will post 3.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FOR. JPMorgan Chase & Co. reduced their price objective on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. BTIG Research lowered their target price on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Finally, Citigroup cut their price objective on Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd.

Forestar Group Profile

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.