Swedbank AB Sells 20,000 Shares of Forestar Group Inc $FOR

Swedbank AB reduced its stake in shares of Forestar Group Inc (NYSE:FOR) by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 450,000 shares of the oil and gas exploration company’s stock after selling 20,000 shares during the period. Swedbank AB owned 0.88% of Forestar Group worth $10,998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Total Wealth Planning & Management Inc. bought a new position in Forestar Group during the 4th quarter worth approximately $552,000. Vanguard Group Inc. boosted its stake in shares of Forestar Group by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,813,034 shares of the oil and gas exploration company’s stock valued at $69,285,000 after purchasing an additional 43,440 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Forestar Group in the 1st quarter valued at $654,000. New York State Teachers Retirement System acquired a new stake in shares of Forestar Group during the first quarter worth $44,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Forestar Group during the first quarter worth $557,000. 35.50% of the stock is owned by institutional investors and hedge funds.

Forestar Group Trading Up 0.8%

FOR traded up $0.25 during trading on Friday, hitting $30.51. The company’s stock had a trading volume of 150,644 shares, compared to its average volume of 142,265. Forestar Group Inc has a twelve month low of $21.53 and a twelve month high of $32.06. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average price is $28.40 and its 200-day moving average price is $27.18. The firm has a market capitalization of $1.56 billion, a P/E ratio of 9.30 and a beta of 1.39.

Forestar Group (NYSE:FOR) last announced 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 company had revenue of $374.30 million for the quarter, compared to analyst estimates of $372.56 million. Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS.

Analyst Ratings Changes

A number of brokerages recently weighed in on FOR. Zacks Research downgraded shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. BTIG Research assumed coverage on Forestar Group in a report on Monday, March 30th. They set a “hold” rating for the company. Finally, Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Two equities research 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, Forestar Group has a consensus rating of “Hold” and a consensus target price of $32.67.

About Forestar Group

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.