Encompass Health Co. (NYSE:EHC) Stock Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in shares of Encompass Health Co. (NYSE:EHC) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,275 shares of the company’s stock after selling 1,051 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Encompass Health were worth $7,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Oakworth Capital Inc. acquired a new position in Encompass Health during the second quarter worth about $40,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Encompass Health by 58.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 534 shares of the company’s stock worth $46,000 after purchasing an additional 198 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Encompass Health by 192.3% in the 4th quarter. Parallel Advisors LLC now owns 573 shares of the company’s stock worth $38,000 after purchasing an additional 377 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Encompass Health during the second quarter worth approximately $58,000. 97.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Douglas E. Coltharp sold 12,260 shares of Encompass Health stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 136,227 shares in the company, valued at $11,761,839.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Encompass Health Price Performance

NYSE EHC opened at $94.50 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 1.41 and a beta of 0.88. The company has a 50 day simple moving average of $91.65 and a 200-day simple moving average of $86.60. Encompass Health Co. has a 52-week low of $57.55 and a 52-week high of $97.56.

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

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

Encompass Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.17 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 0.72%. This is an increase from Encompass Health’s previous quarterly dividend of $0.15. Encompass Health’s payout ratio is 18.38%.

Analyst Upgrades and Downgrades

EHC has been the topic of several research reports. Leerink Partners started 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. Barclays reduced 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. UBS Group lifted their price target on Encompass Health from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Truist Financial raised 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. Finally, Royal Bank of Canada boosted their price target on shares of Encompass Health from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $102.88.

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.