Encompass Health Co. (NYSE:EHC) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in shares of Encompass Health Co. (NYSE:EHC) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,454 shares of the company’s stock after selling 391 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Encompass Health were worth $897,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Commonwealth Equity Services LLC increased its position 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 valued at $845,000 after acquiring an additional 123 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of Encompass Health by 1.5% in 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 boosted its stake in shares of Encompass Health by 1.2% in 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. boosted its stake in shares of Encompass Health by 0.5% in 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 boosted its stake in shares of Encompass Health by 31.9% in 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.

Encompass Health Stock Up 2.6 %

EHC stock opened at $95.26 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.08. Encompass Health Co. has a twelve month low of $57.55 and a twelve month high of $95.96. The company’s 50 day moving average is $90.35 and its two-hundred day moving average is $85.62. The stock has a market cap of $9.59 billion, a P/E ratio of 25.75, a PEG ratio of 1.39 and a beta of 0.88.

Encompass Health (NYSE:EHC) last released its quarterly earnings data on Monday, August 5th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The company had revenue of $1.30 billion for 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 firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. Research analysts expect that Encompass Health Co. will post 4.18 earnings per share for the current fiscal year.

Encompass Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Encompass Health’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, October 1st. Encompass Health’s payout ratio is presently 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 repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays lowered 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 note on Tuesday, August 6th. Truist Financial lifted their price target on shares of Encompass Health from $100.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Leerink Partners began coverage on shares of Encompass Health in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $100.00 price target for the company. Leerink Partnrs upgraded shares of Encompass Health to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Stephens reiterated an “overweight” rating and issued a $105.00 price target on shares of Encompass Health in a research note on Tuesday, August 6th. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $100.38.

Insider Activity

In other news, CFO Douglas E. Coltharp sold 12,260 shares of Encompass Health 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 transaction, the chief financial officer now directly owns 136,227 shares of the company’s stock, valued at approximately $11,761,839.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.