Janus Henderson Group PLC Has $6.29 Million Stake in Forestar Group Inc $FOR

Janus Henderson Group PLC raised its holdings in Forestar Group Inc (NYSE:FOR) by 28.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 256,842 shares of the oil and gas exploration company’s stock after purchasing an additional 56,514 shares during the period. Janus Henderson Group PLC’s holdings in Forestar Group were worth $6,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of Forestar Group by 1,206.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 917 shares during the period. Kestra Advisory Services LLC bought a new position in Forestar Group during the 4th quarter worth $27,000. Fifth Third Bancorp acquired a new position in Forestar Group in the 1st quarter valued at $31,000. Comerica Bank raised its holdings in Forestar Group by 76.5% in the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 550 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Forestar Group by 201.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock valued at $42,000 after acquiring an additional 1,406 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Trading Down 1.3%

Shares of Forestar Group stock opened at $29.21 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.44 and a current ratio of 1.44. Forestar Group Inc has a 52 week low of $22.81 and a 52 week high of $32.06. The stock has a 50 day moving average price of $29.33 and a two-hundred day moving average price of $27.66. The stock has a market capitalization of $1.49 billion, a PE ratio of 8.77 and a beta of 1.41.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, July 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $35.00 price objective on shares of Forestar Group in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.67.

About Forestar Group

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.