Encompass Health Corporation $EHC Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Encompass Health stake by 23.5% in the first quarter, owning 117,714 shares worth approximately $11.4 million. Institutional investors collectively hold 97.25% of the company.
• Encompass Health raised its quarterly dividend to $0.21 per share from $0.19, implying an annualized dividend of $0.84 and a 0.7% yield.
• The stock opened at $112.39, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $143.86; ratings range from Strong Buy to Hold.

California State Teachers Retirement System raised its holdings in shares of Encompass Health Corporation (NYSE:EHC - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,714 shares of the company's stock after acquiring an additional 22,368 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Encompass Health worth $11,386,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. EP Wealth Advisors LLC lifted its position in Encompass Health by 2.4% during the second quarter. EP Wealth Advisors LLC now owns 3,694 shares of the company's stock valued at $453,000 after purchasing an additional 88 shares during the period. Gamco Investors INC. ET AL grew its position in Encompass Health by 2.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 4,813 shares of the company's stock worth $466,000 after purchasing an additional 94 shares during the period. Gibson Capital LLC raised its stake in shares of Encompass Health by 4.3% during the 1st quarter. Gibson Capital LLC now owns 2,431 shares of the company's stock valued at $235,000 after buying an additional 101 shares during the last quarter. Leuthold Group LLC lifted its holdings in shares of Encompass Health by 0.3% in the 4th quarter. Leuthold Group LLC now owns 31,168 shares of the company's stock valued at $3,308,000 after buying an additional 104 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Encompass Health by 24.4% in the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $57,000 after buying an additional 106 shares during the period. 97.25% of the stock is owned by hedge funds and other institutional investors.

Encompass Health Stock Up 1.2%

EHC opened at $112.39 on Tuesday. The company has a market cap of $11.15 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. Encompass Health Corporation has a twelve month low of $92.77 and a twelve month high of $127.99. The company has a 50-day moving average price of $105.90 and a 200 day moving average price of $104.14. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.76.

Encompass Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, October 1st. This is an increase from Encompass Health's previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.7%. Encompass Health's payout ratio is currently 12.69%.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays dropped their target price on Encompass Health from $153.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, May 5th. Leerink Partners set a $152.00 price target on Encompass Health in a report on Friday, May 22nd. TD Cowen started coverage on Encompass Health in a research report on Thursday, May 28th. They issued a "buy" rating and a $125.00 price objective on the stock. Weiss Ratings cut shares of Encompass Health from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised shares of Encompass Health from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Encompass Health currently has a consensus rating of "Moderate Buy" and an average price target of $143.86.

Insider Buying and Selling at Encompass Health

In other news, EVP Patrick William Tuer sold 682 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $104.56, for a total value of $71,309.92. Following the transaction, the executive vice president owned 24,755 shares in the company, valued at $2,588,382.80. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Encompass Health Company Profile

Encompass Health Corporation is a leading provider of post‐acute healthcare services in the United States, operating a comprehensive network of inpatient rehabilitation hospitals and home health and hospice agencies. Its inpatient rehabilitation hospitals offer intensive therapy programs for patients recovering from conditions such as stroke, brain injury, spinal cord injury, cardiac and pulmonary disorders, and orthopedic procedures. Through its home health segment, Encompass Health delivers skilled nursing, physical therapy, occupational therapy and speech therapy to patients in the comfort of their homes, while its hospice services provide end‐of‐life care focused on symptom management and emotional support for patients and families.

Founded in 1984 as HealthSouth Corporation and rebranded as Encompass Health in 2018, the company has grown organically and through acquisitions to serve patients across more than 30 states.

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