Janus Henderson Group PLC Has $6.29 Million Position in Forestar Group Inc $FOR

Key Points

• Janus Henderson increased its Forestar Group stake by 28.2% in the first quarter, bringing its holdings to 256,842 shares worth approximately $6.29 million, or 0.50% of the company. Institutional investors and hedge funds collectively own 35.5% of Forestar.
• Analysts maintain a generally neutral view, with Forestar carrying a consensus “Hold” rating and an average price target of $32.67; JMP reiterated a “market outperform” rating with a $35 target.
• Forestar shares opened at $29.21, while the company’s latest quarterly results missed expectations: EPS was $0.70 versus an estimated $0.81, and revenue was $407 million versus forecasts of $437.73 million, although revenue increased 4.2% year over year.

Janus Henderson Group PLC lifted its stake in Forestar Group Inc (NYSE:FOR - Free Report) by 28.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,842 shares of the oil and gas exploration company's stock after buying an additional 56,514 shares during the period. Janus Henderson Group PLC owned about 0.50% of Forestar Group worth $6,286,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Forestar Group by 1,206.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company's stock valued at $26,000 after purchasing an additional 917 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Forestar Group during the fourth quarter valued at approximately $27,000. Fifth Third Bancorp acquired a new stake in shares of Forestar Group in the 1st quarter valued at $31,000. Comerica Bank increased its position in Forestar Group by 76.5% in the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company's stock worth $34,000 after purchasing an additional 550 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in shares of Forestar Group during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 35.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded Forestar Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, July 29th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $35.00 price objective on shares of Forestar Group in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Forestar Group presently has a consensus rating of "Hold" and an average price target of $32.67.

Forestar Group Stock Down 1.3%

NYSE:FOR opened at $29.21 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.43. The stock's 50 day moving average price is $29.33 and its two-hundred day moving average price is $27.66. Forestar Group Inc has a twelve month low of $22.81 and a twelve month high of $32.06. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 8.77 and a beta of 1.41.

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 EPS 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 firm had revenue of $407.00 million during the quarter, compared to analyst estimates of $437.73 million. During the same quarter in the prior year, the business earned $0.65 EPS. The business's revenue was up 4.2% compared to the same quarter last year.

Forestar Group Profile

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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