Bank of America Corp DE Reduces Holdings in Encompass Health Co. (NYSE:EHC)

Bank of America Corp DE lessened its position in shares of Encompass Health Co. (NYSE:EHC - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 429,463 shares of the company's stock after selling 97,509 shares during the period. Bank of America Corp DE owned approximately 0.43% of Encompass Health worth $39,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in EHC. T. Rowe Price Investment Management Inc. acquired a new position in Encompass Health during the 4th quarter worth approximately $152,953,000. Norges Bank bought a new position in shares of Encompass Health in the 4th quarter valued at $100,637,000. Raymond James Financial Inc. bought a new stake in Encompass Health during the 4th quarter worth $77,944,000. Jennison Associates LLC acquired a new position in Encompass Health in the 4th quarter worth about $52,094,000. Finally, AQR Capital Management LLC boosted its stake in shares of Encompass Health by 136.8% during the fourth quarter. AQR Capital Management LLC now owns 689,206 shares of the company's stock valued at $63,648,000 after purchasing an additional 398,154 shares in the last quarter. 97.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EHC shares. UBS Group boosted their price target on Encompass Health from $117.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, April 28th. StockNews.com upgraded shares of Encompass Health from a "hold" rating to a "buy" rating in a report on Sunday, May 11th. Barclays raised their target price on Encompass Health from $118.00 to $129.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. KeyCorp increased their price target on Encompass Health from $120.00 to $122.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Truist Financial restated a "buy" rating and issued a $135.00 target price (up previously from $116.00) on shares of Encompass Health in a report on Monday, April 28th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Encompass Health currently has a consensus rating of "Buy" and a consensus price target of $120.86.

Encompass Health Stock Down 1.3%

NYSE:EHC traded down $1.56 during trading hours on Wednesday, reaching $120.17. The company had a trading volume of 51,279 shares, compared to its average volume of 693,474. The business's 50-day simple moving average is $106.53 and its two-hundred day simple moving average is $101.04. Encompass Health Co. has a twelve month low of $82.74 and a twelve month high of $122.47. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.31 and a beta of 0.91. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

Encompass Health (NYSE:EHC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.18. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. Encompass Health had a return on equity of 17.56% and a net margin of 8.48%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. On average, equities analysts expect that Encompass Health Co. will post 4.8 earnings per share for the current year.

Encompass Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.57%. The ex-dividend date is Tuesday, July 1st. Encompass Health's payout ratio is currently 14.05%.

Insiders Place Their Bets

In other news, insider Elissa Joy Charbonneau sold 4,279 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $116.61, for a total value of $498,974.19. Following the transaction, the insider now owns 11,958 shares in the company, valued at $1,394,422.38. This trade represents a 26.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark J. Tarr sold 118,384 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $121.53, for a total transaction of $14,387,207.52. Following the completion of the sale, the chief executive officer now owns 527,070 shares of the company's stock, valued at approximately $64,054,817.10. This trade represents a 18.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,663 shares of company stock worth $16,034,082. Insiders own 2.00% of the company's stock.

Encompass Health Company 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.