Intech Investment Management LLC Invests $1.70 Million in Encompass Health Co. (NYSE:EHC)

Intech Investment Management LLC bought a new stake in Encompass Health Co. (NYSE:EHC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,767 shares of the company’s stock, valued at approximately $1,696,000.

Several other hedge funds have also recently added to or reduced their stakes in EHC. Principal Securities Inc. bought a new stake in shares of Encompass Health in the 4th quarter valued at approximately $25,000. Norges Bank acquired a new position in Encompass Health during the fourth quarter worth $69,178,000. Corient Private Wealth LLC lifted its holdings in shares of Encompass Health by 187.2% during the fourth quarter. Corient Private Wealth LLC now owns 17,077 shares of the company’s stock valued at $1,139,000 after acquiring an additional 11,130 shares during the period. Franklin Resources Inc. boosted its stake in shares of Encompass Health by 18.6% in the 4th quarter. Franklin Resources Inc. now owns 57,265 shares of the company’s stock valued at $3,821,000 after purchasing an additional 8,988 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Encompass Health by 25.0% in the 4th quarter. Hsbc Holdings PLC now owns 78,319 shares of the company’s stock worth $5,209,000 after purchasing an additional 15,644 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Leerink Partners began coverage on shares of Encompass Health in a research report on Wednesday, July 10th. They issued an “outperform” rating and a $100.00 price target on the stock. Barclays dropped their price target on Encompass Health from $113.00 to $109.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Truist Financial boosted their price objective on Encompass Health from $100.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Leerink Partnrs upgraded Encompass Health to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, UBS Group increased their price objective on shares of Encompass Health from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Nine research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $100.38.

Encompass Health Stock Up 0.2 %

Shares of NYSE EHC opened at $92.82 on Tuesday. Encompass Health Co. has a 1 year low of $57.55 and a 1 year high of $94.59. The firm’s 50-day moving average is $90.19 and its 200-day moving average is $85.49. 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 firm has a market capitalization of $9.35 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.39 and a beta of 0.88.

Encompass Health (NYSE:EHC) last issued its earnings results on Monday, August 5th. The company reported $1.11 EPS for the quarter, beating 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 company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts expect that Encompass Health Co. will post 4.18 EPS for the current year.

Encompass Health Increases Dividend

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

Encompass Health announced that its Board of Directors has initiated a stock buyback program on Wednesday, July 24th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Encompass Health

In other news, CFO Douglas E. Coltharp sold 12,260 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $86.34, for a total value of $1,058,528.40. Following the completion of the transaction, the chief financial officer now owns 136,227 shares of the company’s stock, valued at approximately $11,761,839.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.10% of the company’s stock.

Encompass Health Company 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.