Vanguard Group Inc. Decreases Holdings in Forestar Group Inc $FOR

Key Points

• Vanguard Group Inc. has reduced its stake in Forestar Group by 3.5%, now holding approximately $57.59 million worth of shares.
• Forestar Group's stock is currently rated as a "Buy" by analysts, with a consensus target price of $30.20.
• Recently, Forestar Group reported earnings of $0.65 per share, missing estimates, with revenue up 22.6% year-over-year.

Vanguard Group Inc. lowered its position in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,723,974 shares of the oil and gas exploration company's stock after selling 99,093 shares during the quarter. Vanguard Group Inc. owned 5.36% of Forestar Group worth $57,585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Signaturefd LLC grew its stake in Forestar Group by 119.1% in the 1st 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. Lazard Asset Management LLC acquired a new position in shares of Forestar Group during the 4th quarter worth about $38,000. NewEdge Advisors LLC bought a new stake in Forestar Group during the 4th quarter valued at approximately $76,000. Heck Capital Advisors LLC acquired a new stake in Forestar Group in the 4th quarter valued at approximately $112,000. Finally, Mercer Global Advisors Inc. ADV increased its position in Forestar Group by 27.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company's stock worth $221,000 after buying an additional 1,856 shares during the period. Institutional investors and hedge funds own 35.50% of the company's stock.

Forestar Group Trading Up 0.2%

Shares of NYSE:FOR traded up $0.06 during trading on Friday, reaching $27.69. The stock had a trading volume of 142,428 shares, compared to its average volume of 173,987. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 8.68 and a beta of 1.39. The firm's fifty day moving average is $24.28 and its 200 day moving average is $21.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. Forestar Group Inc has a 52 week low of $18.00 and a 52 week 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 earnings per share (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 business had revenue of $390.50 million for the quarter, compared to the consensus estimate of $397.50 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. Forestar Group's quarterly revenue was up 22.6% on a year-over-year basis. Forestar Group has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FOR has been the subject of a number of research reports. Citigroup initiated coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating for the company. JMP Securities set a $30.00 target price on Forestar Group and gave the stock a "market outperform" rating in a research report on Tuesday, July 15th. Finally, Citizens Jmp began coverage on Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $30.20.

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.