Swedbank AB Sells 30,000 Shares of Forestar Group Inc $FOR

Swedbank AB trimmed its position in Forestar Group Inc (NYSE:FOR) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 470,000 shares of the oil and gas exploration company’s stock after selling 30,000 shares during the period. Swedbank AB’s holdings in Forestar Group were worth $11,576,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Forestar Group by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,813,034 shares of the oil and gas exploration company’s stock valued at $69,285,000 after purchasing an additional 43,440 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Forestar Group by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,759,879 shares of the oil and gas exploration company’s stock valued at $73,385,000 after purchasing an additional 14,641 shares during the period. American Century Companies Inc. boosted its holdings in Forestar Group by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 702,223 shares of the oil and gas exploration company’s stock valued at $18,672,000 after purchasing an additional 36,626 shares during the period. First Eagle Investment Management LLC boosted its holdings in Forestar Group by 3.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 537,269 shares of the oil and gas exploration company’s stock valued at $14,286,000 after purchasing an additional 17,000 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Forestar Group by 232.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 529,863 shares of the oil and gas exploration company’s stock valued at $10,597,000 after purchasing an additional 370,685 shares during the period. 35.50% of the stock is owned by institutional investors.

Forestar Group Stock Performance

Forestar Group stock opened at $26.37 on Wednesday. The firm’s fifty day moving average price is $26.07 and its 200-day moving average price is $26.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market cap of $1.35 billion, a P/E ratio of 8.04 and a beta of 1.45. Forestar Group Inc has a fifty-two week low of $18.73 and a fifty-two week high of $30.74.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.09). The company had revenue of $374.30 million for the quarter, compared to analysts’ expectations of $372.57 million. Forestar Group had a net margin of 9.80% and a return on equity of 9.49%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, equities research analysts expect that Forestar Group Inc will post 3.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FOR. Zacks Research downgraded shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings downgraded shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. BTIG Research assumed coverage on shares of Forestar Group in a research report on Monday, March 30th. They set a “hold” rating on the stock. Finally, Citigroup raised their price objective on shares of Forestar Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.67.

About Forestar Group

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.