Wells Fargo & Company MN Has $830,000 Holdings in Forestar Group Inc. (NYSE:FOR)

Wells Fargo & Company MN lifted its holdings in Forestar Group Inc. (NYSE:FOR) by 19.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,026 shares of the oil and gas exploration company’s stock after purchasing an additional 5,152 shares during the period. Wells Fargo & Company MN owned 0.06% of Forestar Group worth $830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in Forestar Group by 13.7% during the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after acquiring an additional 43,369 shares during the last quarter. Empowered Funds LLC lifted its position in Forestar Group by 3.9% during the 4th quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock worth $8,566,000 after acquiring an additional 12,473 shares during the last quarter. Barclays PLC lifted its position in Forestar Group by 20.3% during the 3rd quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock worth $1,865,000 after acquiring an additional 9,733 shares during the last quarter. Swedbank AB acquired a new position in Forestar Group during the 4th quarter worth $1,296,000. Finally, Bank of New York Mellon Corp lifted its position in Forestar Group by 15.6% during the 4th quarter. Bank of New York Mellon Corp now owns 114,372 shares of the oil and gas exploration company’s stock worth $2,965,000 after acquiring an additional 15,395 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FOR shares. Citigroup cut their target price on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. BTIG Research dropped their price objective on shares of Forestar Group from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Finally, StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th.

Insider Buying and Selling at Forestar Group

In other news, CEO Anthony W. Oxley purchased 4,300 shares of Forestar Group stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the transaction, the chief executive officer now directly owns 4,300 shares in the company, valued at approximately $99,502. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.40% of the company’s stock.

Forestar Group Stock Performance

NYSE FOR opened at $19.27 on Thursday. The stock has a market cap of $979.38 million, a P/E ratio of 5.40 and a beta of 1.53. The company’s 50-day simple moving average is $20.90 and its 200 day simple moving average is $25.22. Forestar Group Inc. has a twelve month low of $18.00 and a twelve month high of $37.21. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50.

Forestar Group (NYSE:FOR) last posted its earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The business had revenue of $351.00 million during the quarter, compared to the consensus estimate of $379.60 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. As a group, research analysts forecast that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

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.