Geode Capital Management LLC Reduces Position in Forestar Group Inc. (NYSE:FOR)

Geode Capital Management LLC trimmed its holdings in Forestar Group Inc. (NYSE:FOR) by 0.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 471,845 shares of the oil and gas exploration company’s stock after selling 3,717 shares during the quarter. Geode Capital Management LLC’s holdings in Forestar Group were worth $15,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FOR. Sierra Summit Advisors LLC increased its position in shares of Forestar Group by 2.2% during the 2nd quarter. Sierra Summit Advisors LLC now owns 17,166 shares of the oil and gas exploration company’s stock valued at $549,000 after purchasing an additional 370 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Forestar Group by 4.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,831 shares of the oil and gas exploration company’s stock valued at $286,000 after buying an additional 392 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Forestar Group by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock valued at $349,000 after buying an additional 765 shares during the last quarter. Point72 DIFC Ltd bought a new position in Forestar Group in the third quarter worth approximately $32,000. Finally, nVerses Capital LLC boosted its stake in shares of Forestar Group by 500.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Performance

NYSE:FOR opened at $25.70 on Monday. The stock has a 50-day simple moving average of $29.40 and a two-hundred day simple moving average of $30.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 1.61. Forestar Group Inc. has a 52-week low of $25.33 and a 52-week high of $40.92. The firm has a market capitalization of $1.30 billion, a PE ratio of 6.41 and a beta of 1.72.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The business had revenue of $551.40 million during the quarter, compared to the consensus estimate of $503.76 million. During the same quarter in the prior year, the firm earned $1.44 EPS. The business’s revenue was up .3% on a year-over-year basis. Analysts forecast that Forestar Group Inc. will post 3.67 EPS for the current 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.