Forestar Group Inc $FOR Position Trimmed by Swedbank AB

Swedbank AB trimmed its holdings in shares of Forestar Group Inc (NYSE:FOR) by 6.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 470,000 shares of the oil and gas exploration company’s stock after selling 30,000 shares during the quarter. Swedbank AB’s holdings in Forestar Group were worth $11,576,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FOR. AQR Capital Management LLC boosted its holdings in Forestar Group by 32.1% during the first quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock worth $4,811,000 after buying an additional 55,266 shares in the last quarter. Millennium Management LLC boosted its holdings in Forestar Group by 50.8% during the first quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock worth $10,342,000 after buying an additional 164,753 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Forestar Group by 63.7% during the first quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock worth $102,000 after buying an additional 1,879 shares in the last quarter. Jane Street Group LLC bought a new stake in Forestar Group during the first quarter worth approximately $850,000. Finally, Strs Ohio bought a new stake in Forestar Group during the first quarter worth approximately $74,000. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Trading Up 0.5%

Forestar Group stock opened at $27.41 on Friday. The company has a 50 day moving average price of $26.21 and a 200 day moving average price of $26.22. Forestar Group Inc has a 52 week low of $18.50 and a 52 week high of $30.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 8.36 and a beta of 1.45.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.09). Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The company had revenue of $374.30 million during the quarter, compared to analysts’ expectations of $372.57 million. During the same quarter in the previous year, the company earned $0.62 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts forecast that Forestar Group Inc will post 3.06 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on FOR. Zacks Research cut shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings upgraded shares of Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Wall Street Zen cut shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Citigroup raised their target price on shares of Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, BTIG Research initiated coverage on shares of Forestar Group in a research note on Monday, March 30th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.67.

Forestar Group Profile

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.