TD Asset Management Inc Sells 183,696 Shares of Encompass Health Corporation (NYSE:EHC)

Key Points

• TD Asset Management Inc reduced its stake in Encompass Health Corporation by 12.1%, owning approximately 1.33% of the company after selling 183,696 shares.
• Encompass Health announced an increase in its quarterly dividend to $0.19 per share, a rise from the previous $0.17, indicating positive cash flow and financial health.
• Analysts have set new price targets for Encompass Health, with recommendations ranging from $122.00 to $135.00, suggesting a generally bullish outlook on the stock.

TD Asset Management Inc decreased its position in shares of Encompass Health Corporation (NYSE:EHC - Free Report) by 12.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,339,213 shares of the company's stock after selling 183,696 shares during the period. TD Asset Management Inc owned approximately 1.33% of Encompass Health worth $135,635,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of Encompass Health by 8.8% during the 4th quarter. LPL Financial LLC now owns 35,558 shares of the company's stock worth $3,284,000 after purchasing an additional 2,869 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Encompass Health by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 10,404,081 shares of the company's stock worth $960,817,000 after purchasing an additional 138,196 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Encompass Health by 1.7% during the 4th quarter. Prudential Financial Inc. now owns 43,426 shares of the company's stock worth $4,010,000 after purchasing an additional 735 shares in the last quarter. Norges Bank acquired a new stake in Encompass Health in the fourth quarter valued at about $100,637,000. Finally, Pictet Asset Management Holding SA boosted its stake in Encompass Health by 11.0% in 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. Institutional investors own 97.25% of the company's stock.

Encompass Health Stock Up 1.5%

EHC stock traded up $1.60 on Wednesday, reaching $109.86. 228,578 shares of the company traded hands, compared to its average volume of 800,348. The company has a market cap of $11.07 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 2.18 and a beta of 0.88. The firm has a fifty day simple moving average of $117.44 and a 200-day simple moving average of $107.72. Encompass Health Corporation has a one year low of $82.74 and a one year high of $123.13. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.19 dividend. This is a positive change from Encompass Health's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.69%. Encompass Health's dividend payout ratio (DPR) is presently 14.05%.

Insiders Place Their Bets

In other Encompass Health news, CEO Mark J. Tarr sold 118,384 shares of Encompass Health stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $121.53, for a total value of $14,387,207.52. Following the completion of the sale, the chief executive officer owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elissa Joy Charbonneau sold 4,279 shares of Encompass Health 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 completion of the sale, the insider directly owned 11,958 shares of the company's stock, valued at $1,394,422.38. The trade was a 26.35% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group raised their price objective on Encompass Health from $117.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, April 28th. KeyCorp lifted their target price on Encompass Health from $122.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Wall Street Zen lowered Encompass Health from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Truist Financial reiterated a "buy" rating and set a $135.00 price objective (up from $116.00) on shares of Encompass Health in a research report on Monday, April 28th. Finally, Stephens upgraded Encompass Health from an "overweight" rating to a "strong-buy" rating and set a $135.00 price objective for the company in a report on Thursday, June 5th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Encompass Health has a consensus rating of "Buy" and a consensus target price of $131.50.

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.