Empowered Funds LLC Boosts Stake in Forestar Group Inc. (NYSE:FOR)

Empowered Funds LLC lifted its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 3.9% during the fourth quarter, Holdings Channel reports. The fund owned 330,462 shares of the oil and gas exploration company’s stock after purchasing an additional 12,473 shares during the quarter. Empowered Funds LLC’s holdings in Forestar Group were worth $8,566,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Forestar Group by 4.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,831 shares of the oil and gas exploration company’s stock valued at $286,000 after acquiring an additional 392 shares in the last quarter. Carolina Wealth Advisors LLC raised its stake in shares of Forestar Group by 2.3% in the 4th quarter. Carolina Wealth Advisors LLC now owns 20,589 shares of the oil and gas exploration company’s stock valued at $534,000 after purchasing an additional 454 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Forestar Group by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock worth $349,000 after purchasing an additional 765 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Forestar Group in the third quarter worth about $32,000. Finally, nVerses Capital LLC grew its stake in Forestar Group by 500.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FOR. JPMorgan Chase & Co. dropped their target price on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Citigroup dropped their price objective on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, StockNews.com downgraded Forestar Group from a “hold” rating to a “sell” rating in a research note on Monday, January 27th.

Forestar Group Stock Down 1.7 %

Forestar Group stock opened at $22.91 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. Forestar Group Inc. has a one year low of $22.67 and a one year high of $40.92. The company has a 50-day simple moving average of $25.95 and a 200-day simple moving average of $29.19. The firm has a market capitalization of $1.16 billion, a P/E ratio of 6.42 and a beta of 1.72.

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