Lazard Asset Management LLC Purchases New Holdings in Forestar Group Inc. (NYSE:FOR)

Lazard Asset Management LLC acquired a new position in Forestar Group Inc. (NYSE:FOR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,483 shares of the oil and gas exploration company’s stock, valued at approximately $38,000.

A number of other institutional investors have also recently bought and sold shares of FOR. NewEdge Advisors LLC bought a new stake in shares of Forestar Group during the 4th quarter worth $76,000. R Squared Ltd purchased a new stake in Forestar Group during the fourth quarter worth about $95,000. Heck Capital Advisors LLC bought a new stake in Forestar Group in the fourth quarter worth about $112,000. SG Americas Securities LLC boosted its stake in Forestar Group by 43.3% in the fourth quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock valued at $148,000 after acquiring an additional 1,731 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Forestar Group by 10.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company’s stock valued at $170,000 after acquiring an additional 602 shares during the last quarter. Institutional investors own 35.50% of the company’s stock.

Forestar Group Price Performance

FOR opened at $18.88 on Tuesday. The firm has a 50-day moving average price of $20.06 and a 200-day moving average price of $23.59. 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. The company has a market capitalization of $959.30 million, a price-to-earnings ratio of 5.29 and a beta of 1.46.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Thursday, April 17th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The business had revenue of $351.00 million during the quarter, compared to the consensus estimate of $379.60 million. Equities analysts expect that Forestar Group Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FOR shares. BTIG Research lowered their price target 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. Wall Street Zen upgraded Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th.

Insider Activity

In other news, Director Elizabeth Parmer sold 1,460 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $20.57, for a total value of $30,032.20. Following the sale, the director now directly owns 3,357 shares of the company’s stock, valued at approximately $69,053.49. This represents a 30.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.

Forestar Group Company 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.