Forestar Group Inc. (NYSE:FOR) Stock Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Forestar Group Inc. (NYSE:FOR) by 89.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,408 shares of the oil and gas exploration company’s stock after acquiring an additional 5,377 shares during the period. Victory Capital Management Inc.’s holdings in Forestar Group were worth $365,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Woodson Capital Management LP bought a new stake in shares of Forestar Group in the 1st quarter worth about $13,367,000. Principal Financial Group Inc. raised its position in shares of Forestar Group by 2,409.9% in the 2nd quarter. Principal Financial Group Inc. now owns 317,102 shares of the oil and gas exploration company’s stock valued at $10,144,000 after acquiring an additional 304,468 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Forestar Group in the 2nd quarter valued at approximately $6,753,000. Empowered Funds LLC raised its position in shares of Forestar Group by 55.5% in the 1st quarter. Empowered Funds LLC now owns 290,197 shares of the oil and gas exploration company’s stock valued at $11,663,000 after acquiring an additional 103,562 shares during the period. Finally, SageView Advisory Group LLC acquired a new stake in Forestar Group during the 1st quarter worth approximately $2,189,000. 35.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FOR shares. BTIG Research decreased their price target on Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, July 19th. JPMorgan Chase & Co. reduced their price objective on Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Finally, Citigroup cut their price target on Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd.

Insider Transactions at Forestar Group

In related news, Director Elizabeth Parmer sold 1,547 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total value of $49,875.28. Following the completion of the transaction, the director now directly owns 1,548 shares of the company’s stock, valued at approximately $49,907.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Forestar Group news, Director Elizabeth Parmer sold 1,547 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total value of $49,875.28. Following the completion of the transaction, the director now directly owns 1,548 shares of the company’s stock, valued at approximately $49,907.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $31.38, for a total transaction of $62,760.00. Following the completion of the transaction, the director now directly owns 7,951 shares of the company’s stock, valued at $249,502.38. The disclosure for this sale can be found here. Insiders sold a total of 5,095 shares of company stock worth $159,887 in the last quarter. Insiders own 0.49% of the company’s stock.

Forestar Group Price Performance

FOR stock opened at $33.35 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.50 and a quick ratio of 1.50. Forestar Group Inc. has a 1 year low of $22.71 and a 1 year high of $40.92. The stock has a market capitalization of $1.69 billion, a PE ratio of 8.30 and a beta of 1.76. The company’s 50-day moving average is $30.92 and its 200-day moving average is $33.00.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Thursday, July 18th. The oil and gas exploration company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.13). The firm had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $370.50 million. Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. Equities research analysts expect that Forestar Group Inc. will post 3.72 EPS for the current fiscal year.

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.