State Board of Administration of Florida Retirement System decreased its stake in Forestar Group Inc. (NYSE:FOR) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 41,569 shares of the oil and gas exploration company’s stock after selling 129 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of Forestar Group worth $494,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new position in Forestar Group during the second quarter valued at $5,474,000. JPMorgan Chase & Co. increased its position in Forestar Group by 18.0% in the first quarter. JPMorgan Chase & Co. now owns 1,774,964 shares of the oil and gas exploration company’s stock valued at $23,147,000 after buying an additional 270,886 shares during the last quarter. AGF Investments Inc. increased its position in Forestar Group by 20.4% in the second quarter. AGF Investments Inc. now owns 868,930 shares of the oil and gas exploration company’s stock valued at $10,329,000 after buying an additional 146,967 shares during the last quarter. Shell Asset Management Co. acquired a new position in Forestar Group during the second quarter valued at $830,000. Finally, NorthRock Partners LLC acquired a new position in Forestar Group during the first quarter valued at $742,000.
Shares of Forestar Group Inc. (NYSE:FOR) traded down 1.24% during midday trading on Friday, reaching $11.18. 48,589 shares of the company were exchanged. The company has a 50 day moving average price of $11.98 and a 200-day moving average price of $12.29. The stock’s market capitalization is $383.49 million. Forestar Group Inc. has a 12-month low of $7.95 and a 12-month high of $14.87.
Forestar Group (NYSE:FOR) last released its quarterly earnings results on Friday, July 29th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.13. The business earned $46.40 million during the quarter, compared to the consensus estimate of $44.80 million. Forestar Group had a positive return on equity of 7.06% and a negative net margin of 66.84%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS. On average, analysts forecast that Forestar Group Inc. will post $0.30 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of Forestar Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th.
Forestar Group Company Profile
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.
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