Encompass Health Co. (NYSE:EHC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in shares of Encompass Health Co. (NYSE:EHC) by 32.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,894 shares of the company’s stock after selling 17,663 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Encompass Health were worth $3,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its stake in shares of Encompass Health by 1.3% during the second quarter. Commonwealth Equity Services LLC now owns 9,845 shares of the company’s stock worth $845,000 after buying an additional 123 shares during the period. Legacy Wealth Asset Management LLC lifted its position in Encompass Health by 1.5% during the first quarter. Legacy Wealth Asset Management LLC now owns 8,619 shares of the company’s stock valued at $712,000 after purchasing an additional 130 shares during the period. Smith Group Asset Management LLC lifted its position in Encompass Health by 1.2% during the first quarter. Smith Group Asset Management LLC now owns 12,070 shares of the company’s stock valued at $997,000 after purchasing an additional 140 shares during the period. Horrell Capital Management Inc. lifted its position in Encompass Health by 0.5% during the first quarter. Horrell Capital Management Inc. now owns 29,371 shares of the company’s stock valued at $2,425,000 after purchasing an additional 147 shares during the period. Finally, GAMMA Investing LLC lifted its position in Encompass Health by 31.9% during the first quarter. GAMMA Investing LLC now owns 616 shares of the company’s stock valued at $51,000 after purchasing an additional 149 shares during the period. 97.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EHC shares. Barclays decreased their target price on shares of Encompass Health from $113.00 to $109.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Truist Financial boosted their target price on shares of Encompass Health from $100.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Leerink Partners began coverage on shares of Encompass Health in a report on Wednesday, July 10th. They issued an “outperform” rating and a $100.00 price objective for the company. Stephens reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Encompass Health in a report on Tuesday, August 6th. Finally, Leerink Partnrs raised shares of Encompass Health to a “strong-buy” rating in a report on Wednesday, July 10th. Nine research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $100.38.

Insider Buying and Selling

In related news, CFO Douglas E. Coltharp sold 12,260 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $86.34, for a total transaction of $1,058,528.40. Following the transaction, the chief financial officer now directly owns 136,227 shares in the company, valued at $11,761,839.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Encompass Health Stock Down 2.5 %

EHC stock opened at $91.31 on Wednesday. The stock has a market capitalization of $9.19 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.39 and a beta of 0.88. The firm has a 50-day simple moving average of $89.64 and a 200-day simple moving average of $85.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.08. Encompass Health Co. has a 52 week low of $57.55 and a 52 week high of $94.59.

Encompass Health (NYSE:EHC) last released its earnings results on Monday, August 5th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Encompass Health had a net margin of 7.88% and a return on equity of 17.83%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 earnings per share. Equities analysts forecast that Encompass Health Co. will post 4.18 earnings per share for the current fiscal year.

Encompass Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Encompass Health’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 0.74%. Encompass Health’s payout ratio is presently 18.38%.

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.