827,982 Encompass Health Corporation $EHC Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Encompass Health stake by 308.5%, acquiring 827,982 shares in the third quarter and bringing its holdings to about 1.10 million shares, worth roughly $130.5 million.
• Analysts maintain a consensus Buy rating, with an average price target of $154.25; recent targets include UBS at $165 and Barclays at $151.
• Encompass Health beat quarterly earnings expectations, reporting $1.52 EPS and $1.61 billion in revenue, up 8.9% year over year. The company also announced a $0.21 quarterly dividend.

Allspring Global Investments Holdings LLC increased its holdings in Encompass Health Corporation (NYSE:EHC - Free Report) by 308.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,096,357 shares of the company's stock after buying an additional 827,982 shares during the period. Allspring Global Investments Holdings LLC owned about 1.11% of Encompass Health worth $130,532,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in EHC. BlackRock Inc. purchased a new stake in Encompass Health during the 2nd quarter worth about $1,059,762,000. Dimensional Fund Advisors LP grew its holdings in shares of Encompass Health by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,674,784 shares of the company's stock worth $162,013,000 after buying an additional 50,647 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Encompass Health by 1.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,182,574 shares of the company's stock worth $114,390,000 after buying an additional 18,740 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Encompass Health in the second quarter valued at approximately $116,352,000. Finally, Copeland Capital Management LLC raised its position in shares of Encompass Health by 16.8% in the first quarter. Copeland Capital Management LLC now owns 892,823 shares of the company's stock valued at $86,363,000 after buying an additional 128,120 shares during the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings raised shares of Encompass Health from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Wall Street Zen upgraded Encompass Health from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. UBS Group increased their price target on Encompass Health from $155.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, October 30th. Barclays raised their price objective on Encompass Health from $144.00 to $151.00 and gave the stock an "overweight" rating in a report on Thursday, October 29th. Finally, KeyCorp lifted their price objective on Encompass Health from $147.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Encompass Health currently has a consensus rating of "Buy" and an average target price of $154.25.

Insiders Place Their Bets

In other Encompass Health news, EVP John Darby sold 4,858 shares of Encompass Health stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $121.09, for a total transaction of $588,255.22. Following the sale, the executive vice president directly owned 75,041 shares in the company, valued at $9,086,714.69. The trade was a 6.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Encompass Health Price Performance

EHC opened at $137.50 on Monday. The stock has a market capitalization of $13.49 billion, a PE ratio of 21.48, a P/E/G ratio of 2.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.09 and a current ratio of 1.09. The company's 50 day simple moving average is $124.70 and its 200 day simple moving average is $110.93. Encompass Health Corporation has a 1 year low of $92.77 and a 1 year high of $143.36.

Encompass Health (NYSE:EHC - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.16. Encompass Health had a return on equity of 18.35% and a net margin of 10.17%. The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. As a group, sell-side analysts expect that Encompass Health Corporation will post 6.26 EPS for the current year.

Encompass Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be paid a $0.21 dividend. The ex-dividend date is Monday, January 4th. This represents a $0.84 annualized dividend and a dividend yield of 0.6%. Encompass Health's dividend payout ratio is 13.12%.

About Encompass Health

Encompass Health Corporation is a U.S. healthcare provider focused on inpatient rehabilitation. The company operates rehabilitation hospitals that offer specialized care for people recovering from conditions such as strokes, brain and spinal cord injuries, orthopedic conditions, and other illnesses or injuries.

Its hospitals provide coordinated rehabilitation services, including physical, occupational, and speech therapy, alongside medical care. Encompass Health serves patients through facilities across the United States.

The company was previously known as HealthSouth and adopted the Encompass Health name in 2018.

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