Encompass Health Corporation (NYSE:EHC) Position Increased by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management Inc. increased its holdings in Encompass Health Corporation by 12.1%, acquiring an additional 8,308 shares, bringing its total ownership to 76,878 shares valued at approximately $7.8 million.
• Encompass Health recently raised its quarterly dividend from $0.17 to $0.19, with a payout ratio of 15.70% and a dividend yield of 0.71%.
• Several analysts have raised their price targets for Encompass Health, with projections ranging from $125 to $135, indicating strong buy ratings and a consensus target price of $131.50.

Meeder Asset Management Inc. boosted its stake in Encompass Health Corporation (NYSE:EHC - Free Report) by 12.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,878 shares of the company's stock after purchasing an additional 8,308 shares during the quarter. Meeder Asset Management Inc. owned about 0.08% of Encompass Health worth $7,786,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. LPL Financial LLC lifted its position in Encompass Health by 8.8% during the fourth quarter. LPL Financial LLC now owns 35,558 shares of the company's stock valued at $3,284,000 after buying an additional 2,869 shares in the last quarter. Prudential Financial Inc. lifted its position in Encompass Health by 1.7% during the fourth quarter. Prudential Financial Inc. now owns 43,426 shares of the company's stock valued at $4,010,000 after buying an additional 735 shares in the last quarter. Norges Bank acquired a new position in Encompass Health during the fourth quarter valued at approximately $100,637,000. Pictet Asset Management Holding SA lifted its position in Encompass Health by 11.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,569 shares of the company's stock valued at $1,345,000 after buying an additional 1,443 shares in the last quarter. Finally, Level Four Advisory Services LLC lifted its position in Encompass Health by 20.1% during the fourth quarter. Level Four Advisory Services LLC now owns 10,800 shares of the company's stock valued at $997,000 after buying an additional 1,806 shares in the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EHC shares. Truist Financial reaffirmed a "buy" rating and set a $135.00 price target (up from $116.00) on shares of Encompass Health in a research report on Monday, April 28th. Stephens raised shares of Encompass Health from an "overweight" rating to a "strong-buy" rating and set a $135.00 price target on the stock in a research report on Thursday, June 5th. UBS Group lifted their price target on shares of Encompass Health from $117.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Barclays lifted their price target on shares of Encompass Health from $118.00 to $129.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Royal Bank Of Canada boosted their target price on shares of Encompass Health from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $131.50.

Encompass Health Stock Down 0.9%

Shares of NYSE EHC traded down $1.03 during trading on Friday, reaching $109.08. 583,430 shares of the stock were exchanged, compared to its average volume of 806,497. The business's 50-day moving average price is $117.08 and its 200 day moving average price is $107.85. Encompass Health Corporation has a twelve month low of $82.74 and a twelve month high of $123.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.23 and a beta of 0.88.

Encompass Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.19 dividend. This is a boost from Encompass Health's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, October 1st. Encompass Health's dividend payout ratio is currently 15.70%.

Insider Buying and Selling at Encompass Health

In related news, CEO Mark J. Tarr sold 118,384 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $121.53, for a total value of $14,387,207.52. Following the sale, the chief executive officer directly owned 527,070 shares of the company's stock, valued at $64,054,817.10. This represents a 18.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Elissa Joy Charbonneau sold 4,279 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $116.61, for a total transaction of $498,974.19. Following the completion of the sale, the insider directly owned 11,958 shares in the company, valued at $1,394,422.38. This represents a 26.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.