Harvest Fund Management Co. Ltd Trims Holdings in The Ensign Group, Inc. (NASDAQ:ENSG)

Key Points

• Harvest Fund Management Co. Ltd significantly reduced its stake in The Ensign Group, lowering its holdings by 91.5% to just 337 shares.
• The Ensign Group reported earnings of $1.59 EPS, exceeding estimates, with quarterly revenues rising 18.5% year-over-year.
• The company announced a quarterly dividend of $0.0625 per share, yielding 0.2%, alongside insider sales totaling approximately $2.9 million over the past quarter.

Harvest Fund Management Co. Ltd decreased its stake in shares of The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 91.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 337 shares of the company's stock after selling 3,607 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in The Ensign Group were worth $44,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ENSG. Wasatch Advisors LP increased its holdings in shares of The Ensign Group by 4.8% during the 4th quarter. Wasatch Advisors LP now owns 3,497,137 shares of the company's stock worth $464,630,000 after acquiring an additional 159,691 shares during the last quarter. FMR LLC boosted its stake in The Ensign Group by 4.3% in the 4th quarter. FMR LLC now owns 2,082,647 shares of the company's stock valued at $276,701,000 after purchasing an additional 86,676 shares during the period. Northern Trust Corp boosted its stake in The Ensign Group by 26.7% in the 4th quarter. Northern Trust Corp now owns 937,930 shares of the company's stock valued at $124,613,000 after purchasing an additional 197,865 shares during the period. Van Berkom & Associates Inc. boosted its stake in The Ensign Group by 14.1% in the 1st quarter. Van Berkom & Associates Inc. now owns 800,108 shares of the company's stock valued at $103,534,000 after purchasing an additional 99,147 shares during the period. Finally, Clark Capital Management Group Inc. boosted its stake in The Ensign Group by 4.5% in the 4th quarter. Clark Capital Management Group Inc. now owns 461,353 shares of the company's stock valued at $61,295,000 after purchasing an additional 19,821 shares during the period. Institutional investors and hedge funds own 96.12% of the company's stock.

The Ensign Group Price Performance

Shares of ENSG stock traded up $3.19 on Monday, hitting $154.94. 384,462 shares of the company's stock were exchanged, compared to its average volume of 459,292. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.41 and a quick ratio of 1.41. The Ensign Group, Inc. has a 12 month low of $118.73 and a 12 month high of $158.45. The stock has a market cap of $8.94 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. The company has a 50 day moving average of $148.27 and a 200 day moving average of $138.09.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.22 billion. The Ensign Group had a return on equity of 16.92% and a net margin of 6.99%. The business's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.32 EPS. On average, equities research analysts predict that The Ensign Group, Inc. will post 5.59 EPS for the current year.

The Ensign Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $0.0625 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.25 annualized dividend and a yield of 0.2%. The Ensign Group's dividend payout ratio is presently 4.54%.

Insider Transactions at The Ensign Group

In related news, Director Barry M. Smith sold 700 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $153.48, for a total transaction of $107,436.00. Following the completion of the sale, the director directly owned 27,852 shares of the company's stock, valued at approximately $4,274,724.96. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daren Shaw sold 1,999 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $145.47, for a total value of $290,794.53. Following the sale, the director directly owned 24,926 shares of the company's stock, valued at $3,625,985.22. The trade was a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,336 shares of company stock worth $2,902,377 in the last three months. Insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Macquarie reduced their price target on The Ensign Group from $159.00 to $156.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Truist Financial upped their target price on The Ensign Group from $155.00 to $165.00 and gave the company a "hold" rating in a research report on Monday, July 28th. Finally, Stephens upped their target price on The Ensign Group from $165.00 to $170.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, The Ensign Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.67.

The Ensign Group Company Profile

The Ensign Group, Inc provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The company's Skilled Services segment engages in the operation of skilled nursing facilities and rehabilitation therapy services for patients with chronic conditions, prolonged illness, and the elderly; and offers nursing facilities including specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management, as well as standard services comprising room and board, special nutritional programs, social services, recreational activities, entertainment, and other services.