Allspring Global Investments Holdings LLC Cuts Stock Holdings in Forestar Group Inc. (NYSE:FOR)

Allspring Global Investments Holdings LLC cut its stake in Forestar Group Inc. (NYSE:FOR) by 38.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,348 shares of the oil and gas exploration company’s stock after selling 25,642 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of Forestar Group worth $1,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FOR. Sierra Summit Advisors LLC increased its holdings in shares of Forestar Group by 2.2% in the 2nd quarter. Sierra Summit Advisors LLC now owns 17,166 shares of the oil and gas exploration company’s stock valued at $549,000 after acquiring an additional 370 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Forestar Group by 115.4% in the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 495 shares during the last quarter. CWM LLC boosted its stake in shares of Forestar Group by 111.6% during the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 559 shares during the period. The Manufacturers Life Insurance Company grew its holdings 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 buying an additional 765 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Forestar Group by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,997 shares of the oil and gas exploration company’s stock valued at $442,000 after acquiring an additional 781 shares during the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Forestar Group

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.58, for a total transaction of $65,160.00. Following the completion of the transaction, the director now owns 5,951 shares in the company, valued at $193,883.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.49% of the company’s stock.

Forestar Group Price Performance

FOR opened at $31.63 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $1.60 billion, a PE ratio of 7.89 and a beta of 1.76. Forestar Group Inc. has a 1 year low of $23.50 and a 1 year high of $40.92. The company’s 50 day simple moving average is $31.65 and its 200 day simple moving average is $31.92.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.29. The business had revenue of $551.40 million during the quarter, compared to analyst estimates of $503.76 million. Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 earnings per share. As a group, sell-side analysts expect that Forestar Group Inc. will post 3.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FOR shares. BTIG Research cut their price objective on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, July 19th. JPMorgan Chase & Co. lowered their price objective on Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th.

About Forestar Group

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.