Park Avenue Securities LLC Sells 969 Shares of Encompass Health Co. (NYSE:EHC)

Park Avenue Securities LLC reduced its stake in Encompass Health Co. (NYSE:EHC) by 17.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,655 shares of the company’s stock after selling 969 shares during the period. Park Avenue Securities LLC’s holdings in Encompass Health were worth $450,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Oakworth Capital Inc. bought a new position in Encompass Health during the second quarter worth about $40,000. Benjamin F. Edwards & Company Inc. boosted its stake in Encompass Health by 58.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 534 shares of the company’s stock worth $46,000 after acquiring an additional 198 shares during the last quarter. GAMMA Investing LLC grew its holdings in Encompass Health by 31.9% during 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. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Encompass Health in the 2nd quarter valued at $58,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Encompass Health in the second quarter worth about $60,000. 97.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Encompass Health

In other Encompass Health news, CFO Douglas E. Coltharp sold 12,260 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 136,227 shares in the company, valued at $11,761,839.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Encompass Health Stock Performance

EHC opened at $95.92 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.08. Encompass Health Co. has a 12-month low of $57.55 and a 12-month high of $97.56. The business has a 50 day moving average of $91.81 and a 200-day moving average of $87.21. The stock has a market cap of $9.65 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 1.43 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 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The firm had revenue of $1.30 billion during 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 company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 earnings per share. On average, equities research analysts expect that Encompass Health Co. will post 4.18 earnings per share for the current year.

Encompass Health announced that its board has authorized a stock buyback program on Wednesday, July 24th that permits the company to buyback $500.00 million in shares. This buyback authorization permits 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 stock is undervalued.

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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Tuesday, October 1st. This is a boost from Encompass Health’s previous quarterly dividend of $0.15. Encompass Health’s payout ratio is presently 17.35%.

Analyst Ratings Changes

A number of brokerages have weighed in on EHC. Truist Financial lifted their price target on shares of Encompass Health from $100.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays lowered their target price on Encompass Health from $113.00 to $109.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Leerink Partners assumed coverage on Encompass Health in a report on Wednesday, July 10th. They issued an “outperform” rating and a $100.00 price target on the stock. Royal Bank of Canada increased their price objective on Encompass Health from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Stephens restated an “overweight” rating and issued 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 currently has a consensus rating of “Buy” and an average target price of $104.22.

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.