Sei Investments Co. Grows Position in Encompass Health Co. (NYSE:EHC)

Sei Investments Co. grew its position in shares of Encompass Health Co. (NYSE:EHC) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,351 shares of the company’s stock after purchasing an additional 14,396 shares during the quarter. Sei Investments Co. owned approximately 0.26% of Encompass Health worth $22,250,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Encompass Health by 58.9% in the second 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 period. Intech Investment Management LLC acquired a new position in Encompass Health in the 2nd quarter worth about $1,696,000. Leuthold Group LLC purchased a new position in Encompass Health during the second quarter worth approximately $3,025,000. XTX Topco Ltd purchased a new stake in shares of Encompass Health in the second quarter valued at approximately $858,000. Finally, Seven Eight Capital LP acquired a new position in shares of Encompass Health during the 2nd quarter worth approximately $242,000. 97.25% of the stock is currently owned by institutional investors and hedge funds.

Encompass Health Stock Up 1.6 %

Shares of NYSE EHC opened at $96.76 on Thursday. The business’s 50 day moving average is $90.55 and its two-hundred day moving average is $85.70. Encompass Health Co. has a 52-week low of $57.55 and a 52-week high of $96.93. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.08. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.41 and a beta of 0.88.

Encompass Health (NYSE:EHC) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.11 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.30 billion. During the same quarter last year, the company posted $0.95 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Encompass Health Co. will post 4.18 EPS for the current year.

Encompass Health declared that its board has approved a share repurchase plan on Wednesday, July 24th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board 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. Investors of record on Tuesday, October 1st will be issued a $0.17 dividend. This is a boost from Encompass Health’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 0.70%. Encompass Health’s dividend payout ratio (DPR) is 16.22%.

Insiders Place Their Bets

In other news, CFO Douglas E. Coltharp sold 12,260 shares of Encompass Health 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 directly owns 136,227 shares of the company’s stock, valued at approximately $11,761,839.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on EHC shares. UBS Group upped their price target on shares of Encompass Health from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. Leerink Partners assumed coverage on Encompass Health in a research report on Wednesday, July 10th. They issued an “outperform” rating and a $100.00 target price on the stock. Barclays dropped their price target on Encompass Health from $113.00 to $109.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Leerink Partnrs upgraded Encompass Health to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Truist Financial upped their price objective 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. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $101.63.

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.