Nuveen Asset Management LLC Sells 37,740 Shares of Forestar Group Inc. (NYSE:FOR)

Nuveen Asset Management LLC trimmed its holdings in Forestar Group Inc. (NYSE:FOR - Free Report) by 43.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,583 shares of the oil and gas exploration company's stock after selling 37,740 shares during the quarter. Nuveen Asset Management LLC owned 0.10% of Forestar Group worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in Forestar Group in the fourth quarter worth $38,000. NewEdge Advisors LLC bought a new position in Forestar Group in the fourth quarter worth $76,000. SG Americas Securities LLC lifted its position in Forestar Group by 43.3% in the fourth quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company's stock worth $148,000 after purchasing an additional 1,731 shares during the period. EverSource Wealth Advisors LLC lifted its position in Forestar Group by 10.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company's stock worth $170,000 after purchasing an additional 602 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in Forestar Group by 27.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company's stock worth $221,000 after purchasing an additional 1,856 shares during the period. 35.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Elizabeth Parmer sold 1,460 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $20.57, for a total value of $30,032.20. Following the completion of the sale, the director now directly owns 3,357 shares in the company, valued at approximately $69,053.49. This trade represents a 30.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BTIG Research reduced their target price on Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Wall Street Zen raised Forestar Group from a "sell" rating to a "hold" rating in a research report on Wednesday, February 26th.

Forestar Group Price Performance

Forestar Group stock traded down $0.17 during mid-day trading on Friday, hitting $19.55. 125,359 shares of the company were exchanged, compared to its average volume of 177,282. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $19.66 and a 200 day moving average of $22.96. Forestar Group Inc. has a 1-year low of $18.00 and a 1-year high of $37.21. The company has a market capitalization of $993.66 million, a PE ratio of 5.48 and a beta of 1.41.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The company had revenue of $351.00 million for the quarter, compared to analyst estimates of $379.60 million. As a group, sell-side analysts expect that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Forestar Group 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.