Forestar Group Inc $FOR Stake Lowered by Empowered Funds LLC

Key Points

• Empowered Funds LLC has sold 103,496 shares of Forestar Group Inc, reducing its stake by 31.3% to 226,966 shares, valued at approximately $4.8 million.
• Recent research reports have given Forestar Group shares a target price of $30.00, with ratings varying from "outperform" to "Strong Buy" from multiple analysts.
• Forestar Group reported $0.65 EPS for the last quarter, missing expectations of $0.78, despite a 22.6% increase in revenue year-over-year.

Empowered Funds LLC decreased its position in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 31.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,966 shares of the oil and gas exploration company's stock after selling 103,496 shares during the quarter. Empowered Funds LLC owned 0.45% of Forestar Group worth $4,798,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Millennium Management LLC lifted its stake in Forestar Group by 50.8% in the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company's stock valued at $10,342,000 after buying an additional 164,753 shares in the last quarter. Nuveen LLC purchased a new stake in Forestar Group in the 1st quarter valued at approximately $3,123,000. Royal Bank of Canada lifted its stake in shares of Forestar Group by 27.6% during the 1st quarter. Royal Bank of Canada now owns 487,582 shares of the oil and gas exploration company's stock worth $10,308,000 after purchasing an additional 105,361 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Forestar Group by 406.1% during the 4th quarter. Janus Henderson Group PLC now owns 125,408 shares of the oil and gas exploration company's stock worth $3,247,000 after purchasing an additional 100,629 shares during the period. Finally, Heartland Advisors Inc. lifted its stake in shares of Forestar Group by 25.3% during the 1st quarter. Heartland Advisors Inc. now owns 491,900 shares of the oil and gas exploration company's stock worth $10,399,000 after purchasing an additional 99,300 shares during the period. Hedge funds and other institutional investors own 35.50% of the company's stock.

Analyst Upgrades and Downgrades

FOR has been the topic of a number of recent analyst reports. Citigroup initiated coverage on Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating on the stock. JMP Securities set a $30.00 price target on Forestar Group and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Finally, Citizens Jmp initiated coverage on Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating and a $30.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $30.20.

Forestar Group Stock Up 1.8%

Shares of Forestar Group stock traded up $0.48 during trading hours on Wednesday, hitting $27.43. 18,722 shares of the company's stock traded hands, compared to its average volume of 189,432. The stock has a 50 day simple moving average of $25.99 and a 200-day simple moving average of $22.28. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.39 billion, a PE ratio of 8.61 and a beta of 1.43. Forestar Group Inc has a twelve month low of $18.00 and a twelve month high of $34.82.

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

Forestar Group Company 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.