EverSource Wealth Advisors LLC Boosts Stock Holdings in Forestar Group Inc. (NYSE:FOR)

EverSource Wealth Advisors LLC grew its position in shares of Forestar Group Inc. (NYSE:FOR) by 10.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,562 shares of the oil and gas exploration company’s stock after purchasing an additional 602 shares during the period. EverSource Wealth Advisors LLC’s holdings in Forestar Group were worth $170,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its holdings in Forestar Group by 30.9% in the fourth quarter. AlphaQuest LLC now owns 19,400 shares of the oil and gas exploration company’s stock worth $503,000 after purchasing an additional 4,580 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Forestar Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 160,056 shares of the oil and gas exploration company’s stock worth $4,149,000 after purchasing an additional 1,097 shares during the last quarter. Denali Advisors LLC boosted its holdings in Forestar Group by 2.0% in the fourth quarter. Denali Advisors LLC now owns 237,161 shares of the oil and gas exploration company’s stock worth $6,147,000 after purchasing an additional 4,601 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Forestar Group by 15.6% in the fourth quarter. Bank of New York Mellon Corp now owns 114,372 shares of the oil and gas exploration company’s stock worth $2,965,000 after purchasing an additional 15,395 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Forestar Group by 4.6% in the fourth quarter. New York State Common Retirement Fund now owns 75,281 shares of the oil and gas exploration company’s stock worth $1,951,000 after purchasing an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Up 2.6 %

Shares of NYSE:FOR opened at $21.62 on Monday. The stock has a 50 day moving average of $23.62 and a 200 day moving average of $27.85. The company has a market cap of $1.10 billion, a PE ratio of 6.06 and a beta of 1.75. Forestar Group Inc. has a 12-month low of $20.70 and a 12-month high of $40.92. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50.

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

Insider Buying and Selling at Forestar Group

In other news, CEO Anthony W. Oxley purchased 4,300 shares of the stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $23.14 per share, with a total value of $99,502.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,300 shares of the company’s stock, valued at $99,502. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Citigroup cut their price objective on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd.

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.