Principal Financial Group Inc. Sells 192,086 Shares of Encompass Health Co. (NYSE:EHC)

Principal Financial Group Inc. reduced its holdings in Encompass Health Co. (NYSE:EHC) by 39.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,823 shares of the company’s stock after selling 192,086 shares during the quarter. Principal Financial Group Inc. owned approximately 0.30% of Encompass Health worth $28,782,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. QRG Capital Management Inc. lifted its position in Encompass Health by 9.1% during the 3rd quarter. QRG Capital Management Inc. now owns 15,672 shares of the company’s stock worth $1,515,000 after buying an additional 1,307 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Encompass Health by 104.7% during the third quarter. Harbor Capital Advisors Inc. now owns 73,272 shares of the company’s stock worth $7,081,000 after purchasing an additional 37,473 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Encompass Health by 5.5% during the third quarter. Janney Montgomery Scott LLC now owns 11,357 shares of the company’s stock valued at $1,098,000 after purchasing an additional 597 shares during the last quarter. US Bancorp DE increased its holdings in shares of Encompass Health by 18.7% in the third quarter. US Bancorp DE now owns 1,259 shares of the company’s stock valued at $122,000 after purchasing an additional 198 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in Encompass Health by 11.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,851 shares of the company’s stock worth $276,000 after buying an additional 304 shares in the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

Encompass Health Stock Performance

EHC stock opened at $102.62 on Wednesday. Encompass Health Co. has a 1-year low of $63.01 and a 1-year high of $104.55. The company has a current ratio of 1.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.88. The firm has a market cap of $10.34 billion, a PE ratio of 24.94, a P/E/G ratio of 1.36 and a beta of 0.88. The business’s 50-day moving average price is $95.71 and its two-hundred day moving average price is $89.84.

Encompass Health (NYSE:EHC) last issued its quarterly earnings data on Monday, October 28th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.09. Encompass Health had a return on equity of 17.60% and a net margin of 8.10%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm earned $0.86 EPS. Encompass Health’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts forecast that Encompass Health Co. will post 4.29 earnings per share for the current year.

Encompass Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Thursday, January 2nd. Encompass Health’s dividend payout ratio (DPR) is presently 16.43%.

Encompass Health declared that its board has authorized a stock repurchase program on Wednesday, July 24th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EHC shares. Stephens restated an “overweight” rating and set a $105.00 target price on shares of Encompass Health in a research report on Tuesday, August 6th. Barclays raised their target price on shares of Encompass Health from $109.00 to $116.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Royal Bank of Canada boosted their price target on shares of Encompass Health from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on shares of Encompass Health from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Truist Financial reiterated a “buy” rating and set a $116.00 target price (up previously from $108.00) on shares of Encompass Health in a research report on Wednesday, October 30th. 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 has an average rating of “Buy” and an average price target of $107.11.

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.