US Bancorp DE Raises Stake in Forestar Group Inc. (NYSE:FOR)

US Bancorp DE boosted its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 18.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,741 shares of the oil and gas exploration company’s stock after purchasing an additional 3,819 shares during the period. US Bancorp DE’s holdings in Forestar Group were worth $801,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sierra Summit Advisors LLC grew its position in Forestar Group by 2.2% during the 2nd quarter. Sierra Summit Advisors LLC now owns 17,166 shares of the oil and gas exploration company’s stock worth $549,000 after purchasing an additional 370 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Forestar Group by 115.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 495 shares during the last quarter. CWM LLC lifted its stake in shares of Forestar Group by 111.6% in the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 559 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Forestar Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock worth $349,000 after acquiring an additional 765 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Forestar Group by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,997 shares of the oil and gas exploration company’s stock worth $442,000 after acquiring an additional 781 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Stock Down 3.7 %

Shares of NYSE FOR opened at $31.18 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Forestar Group Inc. has a 52 week low of $27.49 and a 52 week high of $40.92. The firm has a 50-day moving average price of $31.77 and a 200 day moving average price of $31.84. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 7.78 and a beta of 1.76.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The firm had revenue of $551.40 million during the quarter, compared to the consensus estimate of $503.76 million. During the same period last year, the firm posted $1.44 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Forestar Group Inc. will post 3.99 EPS for the current fiscal year.

Insider Buying and Selling at Forestar Group

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the completion of the transaction, the director now directly owns 5,951 shares in the company, valued at approximately $193,883.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

About Forestar Group

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.