Forestar Group Inc $FOR Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC grew its holdings in Forestar Group Inc (NYSE:FOR) by 61.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,442 shares of the oil and gas exploration company’s stock after acquiring an additional 17,353 shares during the period. NewEdge Wealth LLC owned about 0.09% of Forestar Group worth $1,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its holdings in Forestar Group by 1,206.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 917 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Forestar Group in the fourth quarter valued at about $27,000. Fifth Third Bancorp acquired a new position in shares of Forestar Group during the first quarter worth about $31,000. Comerica Bank lifted its stake in shares of Forestar Group by 76.5% during the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 550 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Forestar Group by 201.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock worth $42,000 after buying an additional 1,406 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BTIG Research started coverage on Forestar Group in a research note on Monday, March 30th. They issued a “hold” rating for the company. Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Zacks Research cut Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $35.00 price objective on shares of Forestar Group in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Forestar Group has an average rating of “Hold” and an average target price of $32.67.

Forestar Group Stock Performance

Forestar Group stock opened at $28.96 on Tuesday. Forestar Group Inc has a 12-month low of $22.81 and a 12-month high of $32.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 8.70 and a beta of 1.39. The firm’s fifty day moving average price is $28.90 and its 200 day moving average price is $27.54.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). The firm had revenue of $407.00 million during the quarter, compared to analysts’ expectations of $437.73 million. Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share.

Forestar Group Company 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.