Wedge Capital Management L L P NC Sells 23,511 Shares of Encompass Health Co. (NYSE:EHC)

Wedge Capital Management L L P NC decreased its position in shares of Encompass Health Co. (NYSE:EHC - Free Report) by 28.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,897 shares of the company's stock after selling 23,511 shares during the period. Wedge Capital Management L L P NC owned 0.06% of Encompass Health worth $5,864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Colonial Trust Co SC acquired a new position in Encompass Health in the fourth quarter worth approximately $29,000. Transce3nd LLC acquired a new position in shares of Encompass Health during the 4th quarter worth $40,000. CBIZ Investment Advisory Services LLC increased its position in Encompass Health by 38.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 455 shares of the company's stock worth $42,000 after buying an additional 127 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Encompass Health by 43.8% in the 4th quarter. V Square Quantitative Management LLC now owns 581 shares of the company's stock worth $54,000 after purchasing an additional 177 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Encompass Health by 21.6% in the fourth quarter. Signaturefd LLC now owns 704 shares of the company's stock worth $65,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company's stock.

Encompass Health Price Performance

Shares of Encompass Health stock traded up $0.76 during midday trading on Thursday, hitting $120.17. 955,036 shares of the company were exchanged, compared to its average volume of 703,492. The firm has a 50 day simple moving average of $113.09 and a 200-day simple moving average of $103.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 1.04. The firm has a market cap of $12.11 billion, a P/E ratio of 26.94, a PEG ratio of 2.31 and a beta of 0.89. Encompass Health Co. has a 52 week low of $82.74 and a 52 week high of $123.13.

Encompass Health (NYSE:EHC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.18. Encompass Health had a return on equity of 17.56% and a net margin of 8.48%. The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period last year, the business earned $1.12 earnings per share. The business's revenue was up 10.6% on a year-over-year basis. Research analysts forecast that Encompass Health Co. will post 4.8 earnings per share for the current year.

Encompass Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Tuesday, July 1st. Encompass Health's payout ratio is 14.05%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stephens raised Encompass Health from an "overweight" rating to a "strong-buy" rating and set a $135.00 target price on the stock in a report on Thursday, June 5th. Truist Financial restated a "buy" rating and issued a $135.00 price objective (up previously from $116.00) on shares of Encompass Health in a research note on Monday, April 28th. Wall Street Zen cut shares of Encompass Health from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Barclays raised their price target on shares of Encompass Health from $118.00 to $129.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, UBS Group upped their price objective on shares of Encompass Health from $117.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Encompass Health presently has an average rating of "Buy" and a consensus price target of $127.00.

Insider Activity

In other news, EVP John Patrick Darby sold 10,000 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $114.79, for a total value of $1,147,900.00. Following the completion of the sale, the executive vice president now directly owns 79,710 shares in the company, valued at approximately $9,149,910.90. This trade represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark J. Tarr sold 118,384 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 527,070 shares in the company, valued at approximately $64,054,817.10. This trade represents a 18.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,663 shares of company stock worth $16,034,082. Insiders own 2.00% of the company's stock.

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.