Sei Investments Co. increases its position in Encompass Health Co. (NYSE:EHC)

Sei Investments Co. increased its position in shares of Encompass Health Co. (NYSE:EHC – Free Report) by 5.9% in the second 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 acquiring an additional 14,396 shares during the quarter. Sei Investments Co. owned about 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 purchased a new position in Encompass Health in the second quarter valued at approximately $1,696,000. Leuthold Group LLC purchased a new position in Encompass Health in the second quarter valued at about $3,025,000. XTX Topco Ltd acquired 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 in the second quarter valued at about $242,000. 97.25% of shares are currently owned by institutional investors and hedge funds.

Health stocks include 1.6%

Shares of NYSE EHC opened at $96.76 on Thursday. The company’s 50-day moving average is $90.55, and its two-hundred-day moving average is $85.70. Encompass Health Co. it 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 – Get Free Report ) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.11 EPS for the quarter, topping 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. In the same quarter last year, the company posted EPS of $0.95. The company’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 stock buyback plan on Wednesday, July 24th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.4% of its shares through open market purchases. Stock buyback plans are often an indication that a company’s board of directors believes its stock is undervalued.

Embed health increases dividends

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 an annualized dividend of $0.68 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 dated 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 on the SEC’s website. 2.10% of shares are currently owned by company insiders.

Changes in Analyst Ratings

Several research analysts recently weighed in on EHC shares. UBS Group boosted their target price 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 price target on the stock. Barclays decreased 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 Partners upgraded Encompass Health to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Truist Financial boosted 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. The stock currently has an average rating of “Buy” and a consensus price target of $101.63, based on data from MarketBeat.com.

Read our latest report on Encompass Health

Embed the health profile

(Free Report)

Encompass Health Corporation provides post-acute care 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 inpatient rehabilitation treatment to patients who have suffered physical or cognitive disabilities or injuries due to medical conditions such as strokes, hip fractures and various debilitating neurological conditions.

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