Swedbank AB Decreases Position in Forestar Group Inc $FOR

Swedbank AB lowered its stake in shares of Forestar Group Inc (NYSE:FOR) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 470,000 shares of the oil and gas exploration company’s stock after selling 30,000 shares during the period. Swedbank AB owned 0.92% of Forestar Group worth $11,576,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Forestar Group by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,769,594 shares of the oil and gas exploration company’s stock worth $73,644,000 after purchasing an additional 110,286 shares during the last quarter. Integrated Advisors Network LLC purchased a new stake in shares of Forestar Group during the 3rd quarter worth approximately $485,000. American Century Companies Inc. increased its stake in shares of Forestar Group by 5.5% during the 3rd quarter. American Century Companies Inc. now owns 702,223 shares of the oil and gas exploration company’s stock worth $18,672,000 after purchasing an additional 36,626 shares during the last quarter. NewEdge Wealth LLC increased its stake in shares of Forestar Group by 11.6% during the 4th quarter. NewEdge Wealth LLC now owns 28,089 shares of the oil and gas exploration company’s stock worth $692,000 after purchasing an additional 2,912 shares during the last quarter. Finally, Denali Advisors LLC increased its stake in shares of Forestar Group by 2.8% during the 4th quarter. Denali Advisors LLC now owns 295,165 shares of the oil and gas exploration company’s stock worth $7,270,000 after purchasing an additional 7,952 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Up 1.7%

FOR opened at $26.37 on Wednesday. The company has a 50 day moving average of $26.07 and a 200 day moving average of $26.23. The company has a market cap of $1.35 billion, a PE ratio of 8.04 and a beta of 1.45. Forestar Group Inc has a 12 month low of $18.73 and a 12 month high of $30.74. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.09). The business had revenue of $374.30 million during the quarter, compared to the consensus estimate of $372.57 million. Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. On average, sell-side analysts expect that Forestar Group Inc will post 3.06 EPS for the current year.

Analyst Ratings Changes

FOR has been the subject of several research analyst reports. Citigroup raised their price target on shares of Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Weiss Ratings downgraded shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. BTIG Research assumed coverage on shares of Forestar Group in a report on Monday, March 30th. They issued a “hold” rating for the company. Finally, Zacks Research downgraded shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.67.

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.