The Manufacturers Life Insurance Company Trims Position in Encompass Health Co. (NYSE:EHC)

The Manufacturers Life Insurance Company reduced its position in Encompass Health Co. (NYSE:EHC) by 1.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 87,275 shares of the company’s stock after selling 1,051 shares during the period. The Manufacturers Life Insurance Company owned about 0.09% of Encompass Health worth $7,487,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EHC. Parallel Advisors LLC grew its holdings in Encompass Health by 192.3% in the fourth quarter. Parallel Advisors LLC now owns 573 shares of the company’s stock valued at $38,000 after purchasing an additional 377 shares during the period. Oakworth Capital Inc. acquired a new stake in Encompass Health during the 2nd quarter worth approximately $40,000. Benjamin F. Edwards & Company Inc. raised its holdings in Encompass Health by 58.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 534 shares of the company’s stock valued at $46,000 after buying an additional 198 shares during the period. 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 buying an additional 149 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Encompass Health during the second quarter worth approximately $58,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Analyst Upgrades and Downgrades

EHC has been the topic of several recent research reports. Leerink Partners began coverage on shares of Encompass Health in a report on Wednesday, July 10th. They set an “outperform” rating and a $100.00 target price on the stock. Barclays reduced their price objective on Encompass Health from $113.00 to $109.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada increased their target price on Encompass Health from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Truist Financial boosted their price target on Encompass Health from $100.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Stephens reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Encompass Health in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $102.88.

Encompass Health Stock Performance

Encompass Health stock opened at $94.50 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.08. The stock has a 50 day moving average of $91.65 and a 200-day moving average of $86.60. The stock has a market cap of $9.51 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 1.41 and a beta of 0.88. Encompass Health Co. has a 52 week low of $57.55 and a 52 week high of $97.56.

Encompass Health (NYSE:EHC) last announced its quarterly earnings data 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. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. Encompass Health had a net margin of 7.88% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. On average, analysts expect that Encompass Health Co. will post 4.18 EPS for the current fiscal year.

Encompass Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from Encompass Health’s previous quarterly dividend of $0.15. Encompass Health’s dividend payout ratio (DPR) is currently 18.38%.

Encompass Health declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 24th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Encompass Health

In related news, CFO Douglas E. Coltharp sold 12,260 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

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.