Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Encompass Health Corporation (NYSE:EHC)

Key Points

• Zurcher Kantonalbank increased its stake in Encompass Health Corporation by 3.3%, holding around 768,361 shares valued at approximately $77.8 million as of the latest SEC filing.
• Encompass Health reported impressive quarterly earnings of $1.37 EPS, surpassing analyst expectations of $1.19, with revenue growing by 10.6% year-over-year to $1.46 billion.
• The company declared an increased quarterly dividend of $0.19 per share, up from $0.17, with the annualized yield now at 0.71% as of the upcoming payment date.

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Encompass Health Corporation (NYSE:EHC - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 768,361 shares of the company's stock after purchasing an additional 24,315 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.76% of Encompass Health worth $77,820,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HB Wealth Management LLC bought a new position in shares of Encompass Health in the 1st quarter worth about $339,000. Westover Capital Advisors LLC purchased a new position in shares of Encompass Health during the first quarter valued at approximately $3,369,000. Cetera Investment Advisers boosted its position in Encompass Health by 9.1% in the first quarter. Cetera Investment Advisers now owns 15,834 shares of the company's stock worth $1,604,000 after purchasing an additional 1,319 shares during the last quarter. John G Ullman & Associates Inc. grew its position in shares of Encompass Health by 20.8% during the 1st quarter. John G Ullman & Associates Inc. now owns 29,050 shares of the company's stock valued at $2,942,000 after acquiring an additional 5,000 shares during the period. Finally, Avantax Advisory Services Inc. increased its position in Encompass Health by 2.3% in the first quarter. Avantax Advisory Services Inc. now owns 10,054 shares of the company's stock worth $1,018,000 after buying an additional 223 shares in the last quarter. Institutional investors own 97.25% of the company's stock.

Encompass Health Trading Up 1.8%

Encompass Health stock traded up $1.95 during midday trading on Wednesday, hitting $110.21. 267,609 shares of the stock were exchanged, compared to its average volume of 800,631. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.18 and a beta of 0.88. The stock's 50-day simple moving average is $117.44 and its 200 day simple moving average is $107.72. Encompass Health Corporation has a fifty-two week low of $82.74 and a fifty-two week high of $123.13.

Encompass Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Encompass Health's previous quarterly dividend of $0.17. Encompass Health's dividend payout ratio (DPR) is presently 14.05%.

Insider Activity at Encompass Health

In other news, CEO Mark J. Tarr sold 118,384 shares of the firm'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 transaction, the chief executive officer directly owned 527,070 shares in the company, valued at $64,054,817.10. This trade represents a 18.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Elissa Joy Charbonneau sold 4,279 shares of the business's stock in a transaction on 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 sale, the insider owned 11,958 shares in the company, valued at $1,394,422.38. This represents a 26.35% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EHC has been the subject of a number of research analyst reports. UBS Group raised their price objective on Encompass Health from $117.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, April 28th. KeyCorp upped 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. Truist Financial reaffirmed a "buy" rating and set a $135.00 target price (up previously from $116.00) on shares of Encompass Health in a research report on Monday, April 28th. Stephens raised shares of Encompass Health from an "overweight" rating to a "strong-buy" rating and set a $135.00 target price for the company in a research report on Thursday, June 5th. Finally, 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. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Encompass Health presently has a consensus rating of "Buy" and an average price target of $131.50.

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.