22,858 Shares in Forestar Group Inc $FOR Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Forestar Group Inc (NYSE:FOR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 22,858 shares of the oil and gas exploration company’s stock, valued at approximately $723,000.

A number of other large investors also recently made changes to their positions in FOR. Vanguard Group Inc. increased its holdings in shares of Forestar Group by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,813,034 shares of the oil and gas exploration company’s stock valued at $69,285,000 after purchasing an additional 43,440 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Forestar Group by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,805,806 shares of the oil and gas exploration company’s stock worth $68,573,000 after purchasing an additional 30,347 shares during the period. BlackRock Inc. purchased a new position in Forestar Group during the second quarter valued at approximately $56,174,000. Ameriprise Financial Inc. grew its position in Forestar Group by 232.9% during the second quarter. Ameriprise Financial Inc. now owns 529,863 shares of the oil and gas exploration company’s stock valued at $10,597,000 after purchasing an additional 370,685 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Forestar Group by 2.2% in the 4th quarter. Royal Bank of Canada now owns 511,362 shares of the oil and gas exploration company’s stock valued at $12,594,000 after buying an additional 10,987 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citizens Jmp reiterated a “market outperform” rating and issued a $35.00 target price on shares of Forestar Group in a research report on Wednesday, July 22nd. Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.67.

Forestar Group Price Performance

NYSE FOR opened at $26.87 on Thursday. Forestar Group Inc has a fifty-two week low of $22.81 and a fifty-two week high of $32.06. The stock’s 50-day moving average is $28.98 and its two-hundred day moving average is $27.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $1.37 billion, a P/E ratio of 8.07 and a beta of 1.41.

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

Forestar Group Company 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.