State of New Jersey Common Pension Fund D Sells 6,213 Shares of Encompass Health Corporation $EHC

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Encompass Health Corporation by 18.4%, selling 6,213 shares and leaving it with 27,557 shares valued at approximately $2.79 million as of the latest reporting period.
• Encompass Health recently declared a quarterly dividend increase from $0.17 to $0.19 per share, reflecting a commitment to returning value to shareholders.
• Multiple analysts have raised their price targets for Encompass Health, with the consensus price target now at $134.00, signaling positive market outlook for the company's stock.

State of New Jersey Common Pension Fund D lessened its holdings in shares of Encompass Health Corporation (NYSE:EHC - Free Report) by 18.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 27,557 shares of the company's stock after selling 6,213 shares during the period. State of New Jersey Common Pension Fund D's holdings in Encompass Health were worth $2,791,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EHC. T. Rowe Price Investment Management Inc. bought a new stake in shares of Encompass Health during the fourth quarter worth $152,953,000. Nuveen LLC bought a new stake in shares of Encompass Health during the first quarter worth $50,665,000. Farallon Capital Management LLC grew its holdings in shares of Encompass Health by 15,266.7% during the fourth quarter. Farallon Capital Management LLC now owns 461,000 shares of the company's stock worth $42,573,000 after purchasing an additional 458,000 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Encompass Health by 136.8% during the fourth quarter. AQR Capital Management LLC now owns 689,206 shares of the company's stock worth $63,648,000 after purchasing an additional 398,154 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Encompass Health by 78.6% during the first quarter. American Century Companies Inc. now owns 723,169 shares of the company's stock worth $73,243,000 after purchasing an additional 318,251 shares during the last quarter. Institutional investors own 97.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. KeyCorp increased their target price on Encompass Health from $122.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Royal Bank Of Canada raised their price target on Encompass Health from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Truist Financial raised their price target on Encompass Health from $135.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Stephens upgraded Encompass Health from an "overweight" rating to a "strong-buy" rating and set a $135.00 price target on the stock in a report on Thursday, June 5th. Finally, UBS Group raised their price target on Encompass Health from $130.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, Encompass Health has an average rating of "Buy" and a consensus price target of $134.00.

Encompass Health Trading Up 1.1%

NYSE:EHC opened at $123.4930 on Thursday. Encompass Health Corporation has a 1-year low of $87.85 and a 1-year high of $123.90. The business's 50-day moving average price is $116.27 and its two-hundred day moving average price is $109.96. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 2.14 and a beta of 0.86.

Encompass Health (NYSE:EHC - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. Encompass Health had a return on equity of 17.83% and a net margin of 9.22%.The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. The company's quarterly revenue was up 12.0% on a year-over-year basis. Encompass Health has set its FY 2025 guidance at 5.120-5.340 EPS. On average, equities analysts expect that Encompass Health Corporation will post 4.8 earnings per share for the current year.

Encompass Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.19 per share. This is an increase from Encompass Health's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, October 1st. Encompass Health's payout ratio is 13.31%.

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.

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