New York State Teachers Retirement System Boosts Stake in Encompass Health Corporation $EHC

New York State Teachers Retirement System raised its position in Encompass Health Corporation (NYSE:EHC) by 0.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 76,202 shares of the company’s stock after purchasing an additional 100 shares during the period. New York State Teachers Retirement System’s holdings in Encompass Health were worth $9,345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bayforest Capital Ltd boosted its position in Encompass Health by 49,566.7% in the 2nd quarter. Bayforest Capital Ltd now owns 1,490 shares of the company’s stock valued at $183,000 after buying an additional 1,487 shares during the last quarter. Morningstar Investment Management LLC purchased a new position in Encompass Health in the 2nd quarter valued at about $217,000. Moran Wealth Management LLC purchased a new position in Encompass Health in the 2nd quarter valued at about $4,783,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Encompass Health by 159.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 16,393 shares of the company’s stock valued at $2,010,000 after purchasing an additional 10,082 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Encompass Health by 221.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,753 shares of the company’s stock valued at $1,073,000 after purchasing an additional 6,026 shares in the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Encompass Health

In other Encompass Health news, EVP Patrick William Tuer sold 1,020 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $123.59, for a total value of $126,061.80. Following the sale, the executive vice president owned 18,846 shares in the company, valued at approximately $2,329,177.14. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EHC. Bank of America upped their target price on shares of Encompass Health from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. KeyCorp upped their target price on shares of Encompass Health from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Truist Financial upped their target price on shares of Encompass Health from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Weiss Ratings restated a “buy (b+)” rating on shares of Encompass Health in a research note on Wednesday, October 8th. Finally, UBS Group upped their target price on shares of Encompass Health from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. According to MarketBeat, Encompass Health has an average rating of “Buy” and an average price target of $139.86.

Encompass Health Price Performance

EHC opened at $124.55 on Monday. The firm has a market cap of $12.55 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.18 and a beta of 0.93. Encompass Health Corporation has a fifty-two week low of $87.85 and a fifty-two week high of $127.86. The company’s 50-day moving average price is $123.56 and its 200 day moving average price is $117.36. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.76.

Encompass Health (NYSE:EHC) last released its quarterly earnings data on Wednesday, March 16th. The company reported $0.93 earnings per share for the quarter. The firm had revenue of $136.30 million for the quarter. Encompass Health had a net margin of 9.22% and a return on equity of 17.83%. Encompass Health has set its FY22 guidance at $3.83-$4.19 EPS. As a group, sell-side analysts expect that Encompass Health Corporation will post 4.8 earnings per share for the current year.

Encompass Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.19 dividend. The ex-dividend date was Wednesday, October 1st. This is an increase from Encompass Health’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 0.6%. Encompass Health’s dividend payout ratio (DPR) is 14.87%.

Encompass Health 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.