Empowered Funds LLC purchased a new position in shares of Forestar Group Inc (NYSE:FOR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 79,159 shares of the oil and gas exploration company's stock, valued at approximately $1,935,000. Empowered Funds LLC owned about 0.16% of Forestar Group as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Forestar Group by 32.1% in the 1st quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company's stock valued at $4,811,000 after purchasing an additional 55,266 shares during the period. Millennium Management LLC increased its holdings in shares of Forestar Group by 50.8% during the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company's stock worth $10,342,000 after purchasing an additional 164,753 shares during the period. NewEdge Advisors LLC raised its position in shares of Forestar Group by 63.7% during the first quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company's stock valued at $102,000 after buying an additional 1,879 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Forestar Group during the first quarter valued at about $850,000. Finally, Strs Ohio bought a new stake in shares of Forestar Group in the first quarter valued at about $74,000. Institutional investors and hedge funds own 35.50% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Weiss Ratings lowered Forestar Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, July 29th. Citizens Jmp reissued a "market outperform" rating and set a $35.00 price objective on shares of Forestar Group in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Forestar Group has an average rating of "Hold" and a consensus price target of $32.67.
Check Out Our Latest Research Report on FOR
Forestar Group Price Performance
Forestar Group stock opened at $29.21 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $1.49 billion, a PE ratio of 8.77 and a beta of 1.41. Forestar Group Inc has a one year low of $22.81 and a one year high of $32.06. The business has a 50 day simple moving average of $29.33 and a 200 day simple moving average of $27.66.
Forestar Group (NYSE:FOR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.11). Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. The company had revenue of $407.00 million during the quarter, compared to the consensus estimate of $437.73 million. During the same quarter last year, the company earned $0.65 earnings per share. The business's revenue was up 4.2% on a year-over-year basis.
Forestar Group Profile
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Free Report)
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.
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