Algert Global LLC Raises Stock Holdings in Encompass Health Co. (NYSE:EHC)

Algert Global LLC raised its position in shares of Encompass Health Co. (NYSE:EHC) by 203.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,438 shares of the company’s stock after buying an additional 53,238 shares during the quarter. Algert Global LLC owned about 0.08% of Encompass Health worth $6,815,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EHC. Commonwealth Equity Services LLC lifted its position in Encompass Health by 1.3% during the 2nd 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 period. Legacy Wealth Asset Management LLC boosted its position in shares of Encompass Health by 1.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 8,619 shares of the company’s stock worth $712,000 after purchasing an additional 130 shares in the last quarter. Smith Group Asset Management LLC grew its stake in shares of Encompass Health by 1.2% in the 1st quarter. Smith Group Asset Management LLC now owns 12,070 shares of the company’s stock worth $997,000 after buying an additional 140 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Encompass Health by 31.9% in the 1st quarter. GAMMA Investing LLC now owns 616 shares of the company’s stock worth $51,000 after buying an additional 149 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in Encompass Health by 3.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,246 shares of the company’s stock valued at $351,000 after buying an additional 160 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

Encompass Health Price Performance

Shares of EHC opened at $96.01 on Monday. The firm has a fifty day simple moving average of $91.00 and a two-hundred day simple moving average of $86.05. The firm has a market cap of $9.67 billion, a PE ratio of 25.95, a P/E/G ratio of 1.41 and a beta of 0.88. 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 1-year low of $57.55 and a 1-year high of $97.56.

Encompass Health (NYSE:EHC) last posted its earnings results on Monday, August 5th. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.10. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. Encompass Health had a return on equity of 17.83% and a net margin of 7.88%. Encompass Health’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. On average, equities analysts anticipate that Encompass Health Co. will post 4.18 EPS for the current year.

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

Encompass Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.71%. This is a positive change from Encompass Health’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, October 1st. Encompass Health’s payout ratio is 18.38%.

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 transaction of $1,058,528.40. Following the completion of the sale, 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 legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on EHC. Barclays cut their target price 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. Truist Financial lifted their target price on shares of Encompass Health from $100.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Leerink Partnrs upgraded shares of Encompass Health to a “strong-buy” rating in a report on Wednesday, July 10th. Leerink Partners began coverage on shares of Encompass Health in a report on Wednesday, July 10th. They issued an “outperform” rating and a $100.00 price objective for the company. Finally, Stephens reiterated an “overweight” rating and set a $105.00 target price 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $102.88.

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.