LPL Financial LLC Has $3.22 Million Stock Position in Forestar Group Inc. (NYSE:FOR)

LPL Financial LLC boosted its stake in shares of Forestar Group Inc. (NYSE:FOR) by 3.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 124,182 shares of the oil and gas exploration company’s stock after purchasing an additional 4,161 shares during the quarter. LPL Financial LLC’s holdings in Forestar Group were worth $3,219,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FOR. KLP Kapitalforvaltning AS purchased a new position in shares of Forestar Group in the fourth quarter worth approximately $498,000. American Century Companies Inc. grew its position in Forestar Group by 11.3% during 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 purchasing an additional 59,427 shares in the last quarter. Summit Global Investments raised its stake in Forestar Group by 3.7% during the 4th quarter. Summit Global Investments now owns 33,194 shares of the oil and gas exploration company’s stock valued at $860,000 after purchasing an additional 1,192 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Forestar Group in the fourth quarter valued at $286,000. Finally, Teacher Retirement System of Texas boosted its position in shares of 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 buying an additional 20,542 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on FOR. JPMorgan Chase & Co. dropped their price target 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. Citigroup dropped their target price on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, StockNews.com raised shares of Forestar Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 26th.

Forestar Group Stock Down 0.1 %

FOR opened at $19.34 on Friday. The company has a market capitalization of $980.11 million, a PE ratio of 5.42 and a beta of 1.53. The business has a 50-day moving average of $21.88 and a 200-day moving average of $26.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. Forestar Group Inc. has a fifty-two week low of $18.63 and a fifty-two week high of $37.94.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. Equities research analysts forecast that Forestar Group Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at Forestar Group

In related news, CEO Anthony W. Oxley bought 4,300 shares of Forestar Group stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the purchase, the chief executive officer now owns 4,300 shares in the company, valued at approximately $99,502. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.