Vanguard Group Inc. Cuts Position in Forestar Group Inc. (NYSE:FOR)

Vanguard Group Inc. decreased its holdings in shares of Forestar Group Inc. (NYSE:FOR - Free Report) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,823,067 shares of the oil and gas exploration company's stock after selling 13,011 shares during the period. Vanguard Group Inc. owned 5.57% of Forestar Group worth $73,174,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. First Eagle Investment Management LLC raised its stake in Forestar Group by 26.4% in the fourth quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company's stock worth $12,433,000 after buying an additional 100,100 shares in the last quarter. American Century Companies Inc. raised its position in shares of Forestar Group by 11.3% in the 4th quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company's stock worth $15,143,000 after acquiring an additional 59,427 shares in the last quarter. Swedbank AB purchased a new stake in shares of Forestar Group during the 4th quarter worth $1,296,000. Principal Financial Group Inc. grew its stake in Forestar Group by 13.7% in the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company's stock valued at $11,668,000 after purchasing an additional 43,369 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Forestar Group by 69.1% in the fourth quarter. Teacher Retirement System of Texas now owns 50,262 shares of the oil and gas exploration company's stock worth $1,303,000 after purchasing an additional 20,542 shares in the last quarter. Hedge funds and other institutional investors own 35.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Forestar Group from a "sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Citigroup lowered their price objective on Forestar Group from $39.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Forestar Group from $37.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th.

Forestar Group Stock Performance

Shares of NYSE:FOR traded up $0.03 on Wednesday, hitting $19.27. 8,247 shares of the company were exchanged, compared to its average volume of 180,915. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock's 50 day moving average price is $21.72 and its 200 day moving average price is $26.13. Forestar Group Inc. has a 1-year low of $18.03 and a 1-year high of $37.21. The firm has a market capitalization of $976.51 million, a P/E ratio of 5.40 and a beta of 1.53.

Forestar Group (NYSE:FOR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.33). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The firm had revenue of $250.40 million for the quarter, compared to analysts' expectations of $318.00 million. The company's revenue was down 18.1% on a year-over-year basis. Sell-side analysts predict that Forestar Group Inc. will post 3.44 EPS for the current year.

Insider Activity

In related news, CEO Anthony W. Oxley purchased 4,300 shares of the firm's stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $23.14 per share, with a total value of $99,502.00. Following the completion of the acquisition, the chief executive officer now owns 4,300 shares of the company's stock, valued at $99,502. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

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.