Sumitomo Mitsui Trust Holdings Inc. Buys 29,926 Shares of Encompass Health Co. (NYSE:EHC)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Encompass Health Co. (NYSE:EHC) by 2.3% during the fourth quarter, Holdings Channel reports. The fund owned 1,318,784 shares of the company’s stock after acquiring an additional 29,926 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Encompass Health were worth $87,989,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EHC. Baupost Group LLC MA grew its holdings in Encompass Health by 318.9% during the 1st quarter. Baupost Group LLC MA now owns 3,000,000 shares of the company’s stock worth $213,330,000 after acquiring an additional 2,283,900 shares during the last quarter. Norges Bank acquired a new position in Encompass Health during the 4th quarter valued at about $58,988,000. Invesco Ltd. lifted its position in Encompass Health by 22.3% during the 3rd quarter. Invesco Ltd. now owns 3,974,306 shares of the company’s stock valued at $266,914,000 after purchasing an additional 724,544 shares during the period. Holocene Advisors LP lifted its position in Encompass Health by 3,070.3% during the 2nd quarter. Holocene Advisors LP now owns 574,171 shares of the company’s stock valued at $38,877,000 after purchasing an additional 556,060 shares during the period. Finally, Millennium Management LLC lifted its position in Encompass Health by 83.4% during the 4th quarter. Millennium Management LLC now owns 980,352 shares of the company’s stock valued at $58,635,000 after purchasing an additional 445,741 shares during the period. Institutional investors own 97.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stephens restated an “overweight” rating and set a $85.00 target price on shares of Encompass Health in a research report on Tuesday, January 16th. Barclays upped their target price on shares of Encompass Health from $95.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Mizuho upped their target price on shares of Encompass Health from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Truist Financial increased their price target on shares of Encompass Health from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $83.00 price target on shares of Encompass Health in a research report on Friday, February 9th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $83.22.

Encompass Health Stock Performance

Shares of EHC stock opened at $79.71 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $7.98 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. The company’s 50 day moving average price is $77.15 and its two-hundred day moving average price is $70.16. Encompass Health Co. has a 52 week low of $57.55 and a 52 week high of $83.73.

Encompass Health (NYSE:EHC) last announced its earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.83 by $0.12. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. Encompass Health had a net margin of 7.33% and a return on equity of 17.69%. On average, analysts expect that Encompass Health Co. will post 3.96 earnings per share for the current fiscal year.

Encompass Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.60 annualized dividend and a yield of 0.75%. Encompass Health’s dividend payout ratio (DPR) is currently 17.29%.

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.