Vanguard Group Inc. Raises Holdings in Forestar Group Inc. (NYSE:FOR)

Vanguard Group Inc. grew its stake in shares of Forestar Group Inc. (NYSE:FOR - Free Report) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,761,849 shares of the oil and gas exploration company's stock after purchasing an additional 90,291 shares during the quarter. Vanguard Group Inc. owned about 5.53% of Forestar Group worth $74,404,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Forestar Group by 1.5% during the 3rd quarter. BlackRock Inc. now owns 1,579,641 shares of the oil and gas exploration company's stock worth $17,676,000 after purchasing an additional 23,940 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Forestar Group by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,366,272 shares of the oil and gas exploration company's stock worth $21,257,000 after purchasing an additional 141,122 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Forestar Group by 35.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 824,865 shares of the oil and gas exploration company's stock worth $18,601,000 after purchasing an additional 218,044 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Forestar Group by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 395,846 shares of the oil and gas exploration company's stock worth $8,926,000 after purchasing an additional 13,617 shares during the last quarter. Finally, State Street Corp increased its position in shares of Forestar Group by 4.6% during the 2nd quarter. State Street Corp now owns 366,734 shares of the oil and gas exploration company's stock worth $8,270,000 after purchasing an additional 16,227 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com raised Forestar Group from a "hold" rating to a "buy" rating in a report on Friday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $32.50.

Forestar Group Stock Performance

FOR traded up $0.68 during trading on Friday, hitting $39.24. The stock had a trading volume of 229,124 shares, compared to its average volume of 254,704. The company has a 50 day moving average price of $34.78 and a 200-day moving average price of $31.60. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 10.69 and a beta of 1.71. Forestar Group Inc. has a one year low of $14.50 and a one year high of $40.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 2.01.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.20. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. The business had revenue of $305.90 million during the quarter, compared to the consensus estimate of $273.00 million. During the same period in the previous year, the company posted $0.42 EPS. As a group, research analysts predict that Forestar Group Inc. will post 3.93 EPS for the current 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.