PNC Financial Services Group Inc. Reduces Holdings in Encompass Health Co. (NYSE:EHC)

PNC Financial Services Group Inc. reduced its position in Encompass Health Co. (NYSE:EHC) by 13.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,320 shares of the company’s stock after selling 978 shares during the period. PNC Financial Services Group Inc.’s holdings in Encompass Health were worth $422,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EHC. Vanguard Group Inc. raised its position in shares of Encompass Health by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 9,997,034 shares of the company’s stock valued at $667,002,000 after purchasing an additional 450,081 shares during the period. Wellington Management Group LLP raised its holdings in Encompass Health by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 8,215,770 shares of the company’s stock valued at $548,156,000 after acquiring an additional 449,230 shares during the period. TD Asset Management Inc lifted its position in shares of Encompass Health by 239.6% during the fourth quarter. TD Asset Management Inc now owns 1,969,186 shares of the company’s stock worth $131,384,000 after acquiring an additional 1,389,275 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Encompass Health by 6.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,928,449 shares of the company’s stock valued at $128,666,000 after purchasing an additional 120,527 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Encompass Health by 6.2% during the 4th quarter. Brown Advisory Inc. now owns 1,791,517 shares of the company’s stock valued at $119,530,000 after purchasing an additional 104,847 shares during the period. 97.25% of the stock is owned by hedge funds and other institutional investors.

Encompass Health Stock Performance

Shares of EHC opened at $85.83 on Friday. Encompass Health Co. has a 12 month low of $57.55 and a 12 month high of $87.94. The business’s fifty day simple moving average is $84.77 and its two-hundred day simple moving average is $77.43. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 1.32 and a beta of 0.90. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.14.

Encompass Health (NYSE:EHC) last released its quarterly earnings data on Wednesday, April 24th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.19. Encompass Health had a net margin of 7.60% and a return on equity of 18.01%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Research analysts anticipate that Encompass Health Co. will post 4.1 earnings per share for the current fiscal year.

Encompass Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Monday, July 1st. Encompass Health’s dividend payout ratio is 16.22%.

Insider Buying and Selling at Encompass Health

In related news, CEO Mark J. Tarr sold 44,976 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $83.27, for a total transaction of $3,745,151.52. Following the completion of the sale, the chief executive officer now directly owns 554,098 shares in the company, valued at $46,139,740.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Encompass Health news, CEO Mark J. Tarr sold 44,976 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $83.27, for a total transaction of $3,745,151.52. Following the completion of the sale, the chief executive officer now owns 554,098 shares of the company’s stock, valued at $46,139,740.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Patrick Darby sold 14,543 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $83.94, for a total value of $1,220,739.42. Following the completion of the transaction, the executive vice president now directly owns 84,773 shares in the company, valued at approximately $7,115,845.62. The disclosure for this sale can be found here. Insiders sold a total of 69,519 shares of company stock worth $5,816,091 in the last three months. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EHC shares. Mizuho upped their price target on Encompass Health from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Barclays raised their price target on shares of Encompass Health from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $94.00 price target on shares of Encompass Health in a report on Wednesday, June 5th. Raymond James reiterated a “strong-buy” rating and set a $95.00 target price (up from $85.00) on shares of Encompass Health in a research report on Friday, April 26th. Finally, Royal Bank of Canada increased their price objective on Encompass Health from $83.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, May 22nd. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $93.29.

Encompass Health Profile

Encompass Health Corporation provides post-acute healthcare services in the United States and Puerto Rico. It owns and operates inpatient rehabilitation hospitals that provide medical, nursing, therapy, and ancillary services. The company provides specialized rehabilitative treatment on an inpatient basis to patients who have experienced physical or cognitive disabilities or injuries due to medical conditions, such as strokes, hip fractures, and various debilitating neurological conditions.