New York State Common Retirement Fund Sells 10,984 Shares of Encompass Health Corporation (NYSE:EHC)

New York State Common Retirement Fund cut its stake in shares of Encompass Health Corporation (NYSE:EHC - Free Report) by 21.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,279 shares of the company's stock after selling 10,984 shares during the period. New York State Common Retirement Fund's holdings in Encompass Health were worth $4,079,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC raised its position in Encompass Health by 10.3% in the 4th quarter. HighTower Advisors LLC now owns 18,955 shares of the company's stock worth $1,751,000 after purchasing an additional 1,764 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Encompass Health by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,488 shares of the company's stock valued at $876,000 after buying an additional 716 shares during the period. Signaturefd LLC boosted its stake in Encompass Health by 21.6% in the fourth quarter. Signaturefd LLC now owns 704 shares of the company's stock valued at $65,000 after acquiring an additional 125 shares in the last quarter. Xponance Inc. boosted its stake in Encompass Health by 6.0% in the fourth quarter. Xponance Inc. now owns 11,417 shares of the company's stock valued at $1,054,000 after acquiring an additional 651 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Encompass Health during the fourth quarter worth $403,000. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Encompass Health from $117.00 to $130.00 and gave the company a "buy" rating in a report on Monday, April 28th. Truist Financial reissued a "buy" rating and set a $135.00 target price (up previously from $116.00) on shares of Encompass Health in a research note 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 objective for the company in a research note on Thursday, June 5th. Royal Bank Of Canada upped their price objective on shares of Encompass Health from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, KeyCorp upped their price objective on shares of Encompass Health from $122.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Encompass Health currently has an average rating of "Buy" and an average price target of $131.50.

Encompass Health Trading Down 1.4%

EHC stock traded down $1.57 during mid-day trading on Tuesday, reaching $108.43. 1,076,873 shares of the stock traded hands, compared to its average volume of 734,346. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. Encompass Health Corporation has a 52-week low of $82.74 and a 52-week high of $123.13. The company has a market cap of $10.93 billion, a P/E ratio of 22.40, a P/E/G ratio of 2.23 and a beta of 0.88. The stock's fifty day moving average is $119.05 and its 200-day moving average is $107.02.

Encompass Health (NYSE:EHC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.19 by $0.18. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. Encompass Health had a return on equity of 17.63% and a net margin of 8.97%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 earnings per share. As a group, sell-side analysts expect that Encompass Health Corporation will post 4.8 earnings per share for the current year.

Encompass Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Tuesday, July 1st. Encompass Health's dividend payout ratio is 14.05%.

Insider Transactions 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 directly owned 527,070 shares in the company, valued at $64,054,817.10. This represents a 18.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elissa Joy Charbonneau sold 4,279 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $116.61, for a total value of $498,974.19. Following the completion of the transaction, the insider owned 11,958 shares of the company's stock, 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. In the last three months, insiders have sold 132,663 shares of company stock valued at $16,034,082. 2.10% of the stock is owned by corporate insiders.

Encompass Health 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.