Forestar Group Inc $FOR Shares Acquired by Sei Investments Co.

Sei Investments Co. grew its holdings in Forestar Group Inc (NYSE:FOR) by 79.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 40,159 shares of the oil and gas exploration company’s stock after acquiring an additional 17,786 shares during the quarter. Sei Investments Co. owned about 0.08% of Forestar Group worth $981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Forestar Group during the 1st quarter worth approximately $3,845,000. SEB Asset Management AB acquired a new position in Forestar Group during the first quarter valued at approximately $1,640,000. Total Wealth Planning & Management Inc. acquired a new position in Forestar Group during the fourth quarter valued at approximately $552,000. Vanguard Group Inc. lifted its stake in Forestar Group by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 2,813,034 shares of the oil and gas exploration company’s stock worth $69,285,000 after purchasing an additional 43,440 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Forestar Group during the first quarter worth $557,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Trading Down 0.1%

Shares of FOR stock opened at $29.05 on Thursday. Forestar Group Inc has a 1-year low of $22.81 and a 1-year high of $32.06. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 8.72 and a beta of 1.41. The stock has a 50-day moving average of $29.45 and a 200-day moving average of $27.74.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). Forestar Group had a return on equity of 9.42% and a net margin of 9.88%.The company had revenue of $407.00 million during the quarter, compared to analyst estimates of $437.73 million. During the same period in the prior year, the firm earned $0.65 earnings per share. Forestar Group’s revenue was up 4.2% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

FOR has been the topic of several recent analyst reports. Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Citizens Jmp restated a “market outperform” rating and set a $35.00 price objective on shares of Forestar Group in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.67.

Forestar Group Profile

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.