Principal Financial Group Inc. Increases Holdings in Forestar Group Inc. (NYSE:FOR)

Principal Financial Group Inc. grew its position in shares of Forestar Group Inc. (NYSE:FOR - Free Report) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 360,471 shares of the oil and gas exploration company's stock after buying an additional 43,369 shares during the quarter. Principal Financial Group Inc. owned 0.71% of Forestar Group worth $11,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in Forestar Group in the first quarter worth $32,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Forestar Group by 115.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company's stock worth $37,000 after buying an additional 495 shares during the last quarter. Family Firm Inc. bought a new position in Forestar Group during the second quarter valued at about $34,000. CWM LLC grew its position in Forestar Group by 111.6% during the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company's stock valued at $34,000 after buying an additional 559 shares during the period. Finally, nVerses Capital LLC increased its holdings in Forestar Group by 500.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company's stock worth $39,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 35.50% of the company's stock.

Forestar Group Stock Performance

FOR traded down $0.06 during trading hours on Monday, hitting $29.34. The stock had a trading volume of 138,662 shares, compared to its average volume of 189,582. Forestar Group Inc. has a 1 year low of $27.49 and a 1 year high of $40.92. The company's fifty day simple moving average is $31.74 and its 200 day simple moving average is $31.80. The stock has a market cap of $1.49 billion, a PE ratio of 7.33 and a beta of 1.76. The company has a quick ratio of 1.50, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.29. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The company had revenue of $551.40 million during the quarter, compared to analysts' expectations of $503.76 million. During the same period in the previous year, the business earned $1.44 earnings per share. The firm's quarterly revenue was up .3% compared to the same quarter last year. Equities analysts anticipate that Forestar Group Inc. will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the transaction, the director now directly owns 5,951 shares in the company, valued at $193,883.58. This trade represents a 25.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.49% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their target price on shares of Forestar Group from $37.50 to $36.00 and set a "neutral" rating for the company in a research report on Thursday, July 25th.

Forestar Group Company Profile

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.