Vestcor Inc Purchases 13,962 Shares of Encompass Health Corporation (NYSE:EHC)

Key Points

• Vestcor Inc has increased its holdings in Encompass Health Corporation by 23.0%, bringing their total shares to 74,737, valued at approximately $7.57 million as of the end of the first quarter.
• Encompass Health has recently announced a dividend increase, with a quarterly dividend of $0.19 set for October 15, 2023, up from $0.17, representing an annualized dividend yield of 0.70%.
• Several analysts have upgraded their ratings and price targets for Encompass Health, with a consensus rating of “Buy” and an average target price of $131.50.

Vestcor Inc lifted its position in shares of Encompass Health Corporation (NYSE:EHC - Free Report) by 23.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,737 shares of the company's stock after buying an additional 13,962 shares during the quarter. Vestcor Inc owned about 0.07% of Encompass Health worth $7,569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EHC. Arlington Trust Co LLC grew its holdings in shares of Encompass Health by 22.9% during the first quarter. Arlington Trust Co LLC now owns 671 shares of the company's stock worth $68,000 after purchasing an additional 125 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Encompass Health by 5.9% in the first quarter. IFP Advisors Inc now owns 2,814 shares of the company's stock worth $285,000 after acquiring an additional 158 shares during the period. Merit Financial Group LLC lifted its stake in shares of Encompass Health by 4.1% in the first quarter. Merit Financial Group LLC now owns 4,220 shares of the company's stock worth $427,000 after acquiring an additional 166 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Encompass Health by 6.7% in the first quarter. Sequoia Financial Advisors LLC now owns 2,727 shares of the company's stock worth $276,000 after acquiring an additional 172 shares during the period. Finally, Xponance Inc. lifted its stake in Encompass Health by 1.6% in the first quarter. Xponance Inc. now owns 11,604 shares of the company's stock valued at $1,175,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds own 97.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on EHC shares. UBS Group boosted their price target on Encompass Health from $117.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Stephens raised Encompass Health from an "overweight" rating to a "strong-buy" rating and set a $135.00 price target on the stock in a research note on Thursday, June 5th. Truist Financial reissued a "buy" rating and issued a $135.00 price target (up from $116.00) on shares of Encompass Health in a research note on Monday, April 28th. Royal Bank Of Canada upped their target price on Encompass Health from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Wall Street Zen lowered Encompass Health from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Encompass Health has an average rating of "Buy" and a consensus target price of $131.50.

Encompass Health Stock Down 1.3%

Shares of NYSE:EHC traded down $1.44 during trading on Friday, reaching $108.67. 1,272,979 shares of the stock were exchanged, compared to its average volume of 1,031,717. The stock has a fifty day moving average of $117.08 and a two-hundred day moving average of $107.85. Encompass Health Corporation has a 1-year low of $82.74 and a 1-year high of $123.13. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 2.23 and a beta of 0.86. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.06.

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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.7%. This is an increase from Encompass Health's previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, October 1st. Encompass Health's dividend payout ratio is currently 14.05%.

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 stock was 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 owned 527,070 shares in the company, valued at approximately $64,054,817.10. This represents a 18.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $116.61, for a total value of $498,974.19. Following the sale, the insider owned 11,958 shares of the company's stock, valued at $1,394,422.38. This trade represents a 26.35% decrease in their position. 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.