Summit Global Investments Has $1.04 Million Stock Holdings in Forestar Group Inc. (NYSE:FOR)

Summit Global Investments lifted its position in Forestar Group Inc. (NYSE:FOR) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,002 shares of the oil and gas exploration company’s stock after buying an additional 1,521 shares during the quarter. Summit Global Investments’ holdings in Forestar Group were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Woodson Capital Management LP acquired a new position in Forestar Group during the 1st quarter worth $13,367,000. Principal Financial Group Inc. lifted its position in shares of Forestar Group by 2,409.9% during the 2nd quarter. Principal Financial Group Inc. now owns 317,102 shares of the oil and gas exploration company’s stock worth $10,144,000 after purchasing an additional 304,468 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Forestar Group during the 2nd quarter valued at approximately $6,753,000. First Eagle Investment Management LLC acquired a new stake in Forestar Group in the 2nd quarter valued at approximately $6,592,000. Finally, Dimensional Fund Advisors LP increased its position in Forestar Group by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after buying an additional 201,032 shares during the period. 35.50% of the stock is owned by institutional investors.

Forestar Group Price Performance

Shares of FOR stock opened at $31.18 on Friday. The company has a market capitalization of $1.58 billion, a P/E ratio of 7.78 and a beta of 1.76. The company has a current ratio of 1.61, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. Forestar Group Inc. has a 12 month low of $27.49 and a 12 month high of $40.92. The stock has a 50 day moving average of $31.77 and a two-hundred day moving average of $31.84.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.29. The firm had revenue of $551.40 million for the quarter, compared to the consensus estimate of $503.76 million. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 earnings per share. As a group, equities analysts expect that Forestar Group Inc. will post 3.99 EPS for the current year.

Insider Activity

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.58, for a total value of $65,160.00. Following the completion of the transaction, the director now owns 5,951 shares of the company’s stock, valued at $193,883.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.49% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BTIG Research reduced their price objective on Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, July 19th. JPMorgan Chase & Co. reduced their price target on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a report on Thursday, July 25th.

Forestar Group 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.