American Century Companies Inc. Has $13.36 Million Holdings in Forestar Group Inc $FOR

Key Points

• American Century Companies Inc. has increased its ownership in Forestar Group Inc by 8.2%, acquiring an additional 47,923 shares, bringing their total to 632,145 shares valued at $13.36 million.
• Forestar Group's earnings per share for the latest quarter was $0.65, which missed analysts' expectations of $0.78, with revenue reported at $390.5 million.
• Multiple hedge funds have recently increased their stakes in Forestar Group, with institutional investors now holding 35.50% of the company's stock.

American Century Companies Inc. grew its stake in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 632,145 shares of the oil and gas exploration company's stock after acquiring an additional 47,923 shares during the period. American Century Companies Inc. owned about 1.24% of Forestar Group worth $13,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in shares of Forestar Group in the 4th quarter worth approximately $38,000. Signaturefd LLC lifted its stake in Forestar Group by 119.1% in the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock valued at $32,000 after buying an additional 823 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Forestar Group during the fourth quarter worth about $76,000. Heck Capital Advisors LLC acquired a new stake in shares of Forestar Group in the 4th quarter worth about $112,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Forestar Group by 27.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company's stock valued at $221,000 after buying an additional 1,856 shares during the last quarter. 35.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FOR has been the topic of several analyst reports. JMP Securities set a $30.00 target price on Forestar Group and gave the company a "market outperform" rating in a research report on Tuesday, July 15th. Citizens Jmp assumed coverage on Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating and a $30.00 target price on the stock. Finally, Citigroup started coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They issued an "outperform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Forestar Group presently has a consensus rating of "Buy" and a consensus target price of $30.20.

Forestar Group Trading Up 0.2%

Shares of Forestar Group stock traded up $0.06 on Friday, hitting $27.69. 142,428 shares of the company's stock traded hands, compared to its average volume of 194,376. Forestar Group Inc has a one year low of $18.00 and a one year high of $34.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $1.41 billion, a PE ratio of 8.68 and a beta of 1.39. The firm's 50-day moving average price is $24.12 and its two-hundred day moving average price is $21.84.

Forestar Group (NYSE:FOR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.13). Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.The company had revenue of $390.50 million for the quarter, compared to the consensus estimate of $397.50 million. During the same period in the prior year, the company earned $0.76 EPS. The firm's revenue was up 22.6% on a year-over-year basis. Forestar Group has set its FY 2025 guidance at EPS. On average, research analysts expect that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

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.