Park Avenue Securities LLC Cuts Stake in Encompass Health Co. (NYSE:EHC)

Park Avenue Securities LLC trimmed its holdings in Encompass Health Co. (NYSE:EHC) by 2.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,430 shares of the company’s stock after selling 148 shares during the quarter. Park Avenue Securities LLC’s holdings in Encompass Health were worth $448,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EHC. Principal Securities Inc. bought a new stake in Encompass Health in the fourth quarter worth $25,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Encompass Health by 360.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 405 shares of the company’s stock valued at $27,000 after acquiring an additional 317 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Encompass Health during the 4th quarter valued at about $30,000. GAMMA Investing LLC bought a new position in Encompass Health during the 4th quarter worth approximately $33,000. Finally, Parallel Advisors LLC lifted its position 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 last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Encompass Health Stock Performance

Encompass Health stock opened at $85.79 on Friday. Encompass Health Co. has a fifty-two week low of $57.55 and a fifty-two week high of $87.94. The stock’s 50 day simple moving average is $84.77 and its two-hundred day simple moving average is $77.51. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.34 and a beta of 0.90.

Encompass Health (NYSE:EHC) last released its quarterly earnings results 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. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.27 billion. Encompass Health had a return on equity of 18.01% and a net margin of 7.60%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. As a group, analysts expect that Encompass Health Co. will post 4.1 earnings per share for the current fiscal year.

Encompass Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Monday, July 1st. Encompass Health’s payout ratio is currently 16.22%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EHC. Barclays raised their target price on shares of Encompass Health from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Mizuho upped their price objective on shares of Encompass Health from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Stephens reiterated an “overweight” rating and set a $94.00 target price on shares of Encompass Health in a report on Wednesday, June 5th. Raymond James restated a “strong-buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Encompass Health in a 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 stock an “outperform” rating in a report on Wednesday, May 22nd. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $93.29.

Insiders Place Their Bets

In other Encompass Health news, Director Greg D. Carmichael bought 2,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $83.73 per share, for a total transaction of $167,460.00. Following the completion of the acquisition, the director now owns 17,050 shares of the company’s stock, valued at $1,427,596.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Greg D. Carmichael acquired 2,000 shares of Encompass Health stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $83.73 per share, with a total value of $167,460.00. Following the transaction, the director now directly owns 17,050 shares in the company, valued at $1,427,596.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elissa Joy Charbonneau sold 10,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $85.02, for a total value of $850,200.00. Following the completion of the sale, the insider now directly owns 18,594 shares in the company, valued at $1,580,861.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,519 shares of company stock worth $5,816,091. 2.10% of the stock is currently owned by company insiders.

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.