MQS Management LLC Decreases Stock Position in Encompass Health Co. (NYSE:EHC)

MQS Management LLC lessened its stake in shares of Encompass Health Co. (NYSE:EHC) by 52.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,838 shares of the company’s stock after selling 3,193 shares during the period. MQS Management LLC’s holdings in Encompass Health were worth $243,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EHC. Trillium Asset Management LLC purchased a new position in Encompass Health during the 1st quarter worth approximately $4,432,000. TD Asset Management Inc raised its holdings in shares of Encompass Health by 16.0% during the first quarter. TD Asset Management Inc now owns 2,283,674 shares of the company’s stock worth $188,586,000 after purchasing an additional 314,488 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Encompass Health by 275.7% during the second quarter. Harbor Capital Advisors Inc. now owns 35,799 shares of the company’s stock valued at $3,071,000 after purchasing an additional 26,270 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Encompass Health by 102.9% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,341 shares of the company’s stock valued at $93,364,000 after purchasing an additional 709,593 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Encompass Health by 85.6% during the second quarter. QRG Capital Management Inc. now owns 14,365 shares of the company’s stock worth $1,232,000 after acquiring an additional 6,627 shares during the period. 97.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Encompass Health news, CFO Douglas E. Coltharp sold 12,260 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $86.34, for a total value of $1,058,528.40. Following the completion of the sale, the chief financial officer now directly owns 136,227 shares in the company, valued at approximately $11,761,839.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EHC has been the topic of several analyst reports. Leerink Partners began coverage on shares of Encompass Health in a research report on Wednesday, July 10th. They set an “outperform” rating and a $100.00 price target on the stock. Leerink Partnrs raised Encompass Health to a “strong-buy” rating in a report on Wednesday, July 10th. UBS Group upped their target price on Encompass Health from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Truist Financial increased their target price on Encompass Health from $100.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays reduced their price objective 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. Nine research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $100.38.

Encompass Health Stock Up 0.6 %

NYSE EHC opened at $92.65 on Friday. Encompass Health Co. has a one year low of $57.55 and a one year high of $94.59. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.35 and a current ratio of 1.35. The business has a fifty day moving average price of $90.04 and a 200 day moving average price of $85.25. The company has a market cap of $9.33 billion, a P/E ratio of 25.04, a P/E/G ratio of 1.39 and a beta of 0.88.

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

Encompass Health announced that its board has initiated a stock buyback program on Wednesday, July 24th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Encompass Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Tuesday, October 1st. This is a boost from Encompass Health’s previous quarterly dividend of $0.15. Encompass Health’s dividend payout ratio (DPR) is currently 18.38%.

About Encompass Health

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.