Sumitomo Mitsui Trust Group Inc. Sells 24,741 Shares of Encompass Health Corporation $EHC

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its stake in Encompass Health Corporation by 3.2%, now holding approximately 0.74% of the company, after selling 24,741 shares.
• Encompass Health has seen significant interest from institutional investors, with hedge funds collectively holding 97.25% of the company's stock.
• Analysts remain optimistic about Encompass Health, with a consensus rating of "Buy" and price targets increasing to a range of $140 to $160 from various financial institutions.

Sumitomo Mitsui Trust Group Inc. trimmed its position in Encompass Health Corporation (NYSE:EHC - Free Report) by 3.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 743,586 shares of the company's stock after selling 24,741 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.74% of Encompass Health worth $91,186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EHC. GAMMA Investing LLC grew its holdings in shares of Encompass Health by 21.5% in the first quarter. GAMMA Investing LLC now owns 2,366 shares of the company's stock valued at $240,000 after acquiring an additional 419 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Encompass Health by 30.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,597 shares of the company's stock valued at $972,000 after purchasing an additional 2,218 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Encompass Health by 6.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,727 shares of the company's stock worth $276,000 after purchasing an additional 172 shares during the period. Highland Capital Management LLC bought a new stake in shares of Encompass Health during the 1st quarter worth $206,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Encompass Health by 51.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 69,231 shares of the company's stock worth $7,012,000 after buying an additional 23,518 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company's stock.

Analyst Upgrades and Downgrades

EHC has been the topic of several research reports. KeyCorp lifted their price objective on shares of Encompass Health from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Bank of America increased their price objective on Encompass Health from $145.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Truist Financial boosted their target price on Encompass Health from $135.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Zacks Research upgraded Encompass Health from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 21st. Finally, UBS Group upped their price objective on shares of Encompass Health from $140.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $139.86.

Insider Buying and Selling

In other news, EVP Patrick William Tuer sold 1,020 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $123.59, for a total transaction of $126,061.80. Following the completion of the transaction, the executive vice president directly owned 18,846 shares in the company, valued at $2,329,177.14. The trade was a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by insiders.

Encompass Health Price Performance

Shares of NYSE EHC opened at $126.23 on Friday. The stock has a fifty day moving average of $124.23 and a 200-day moving average of $118.20. The stock has a market cap of $12.71 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.21 and a beta of 0.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.06 and a current ratio of 1.06. Encompass Health Corporation has a fifty-two week low of $87.85 and a fifty-two week high of $127.99.

Encompass Health (NYSE:EHC - Get Free Report) last issued its earnings results on Wednesday, March 16th. The company reported $0.93 EPS for the quarter. Encompass Health had a return on equity of 17.83% and a net margin of 9.22%.The business had revenue of $136.30 million during the quarter. Encompass Health has set its FY22 guidance at $3.83-$4.19 EPS. Equities research analysts anticipate that Encompass Health Corporation will post 4.8 earnings per share for the current year.

Encompass Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a $0.19 dividend. The ex-dividend date is Friday, January 2nd. This represents a $0.76 annualized dividend and a yield of 0.6%. Encompass Health's dividend payout ratio is currently 14.87%.

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.

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