Pinebridge Investments L.P. Sells 5,953 Shares of Encompass Health Co. (NYSE:EHC)

Pinebridge Investments L.P. decreased its position in Encompass Health Co. (NYSE:EHC - Free Report) by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,238 shares of the company's stock after selling 5,953 shares during the period. Pinebridge Investments L.P.'s holdings in Encompass Health were worth $3,993,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Encompass Health by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 644,764 shares of the company's stock worth $59,544,000 after acquiring an additional 4,345 shares during the period. Central Pacific Bank Trust Division increased its holdings in Encompass Health by 15.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,195 shares of the company's stock valued at $295,000 after buying an additional 418 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Encompass Health during the fourth quarter worth about $374,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Encompass Health during the fourth quarter worth about $4,160,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Encompass Health by 87.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 293 shares of the company's stock worth $27,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company's stock.

Insider Activity

In related news, EVP John Patrick Darby sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $114.79, for a total value of $1,147,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,710 shares of the company's stock, valued at approximately $9,149,910.90. This trade represents a 11.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrew L. Price sold 5,042 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $98.29, for a total transaction of $495,578.18. Following the completion of the transaction, the chief accounting officer now directly owns 69,164 shares of the company's stock, valued at approximately $6,798,129.56. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Encompass Health Stock Performance

Shares of NYSE:EHC traded down $0.96 on Thursday, hitting $116.04. The company had a trading volume of 260,316 shares, compared to its average volume of 680,498. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average price of $101.07 and a 200 day moving average price of $98.96. Encompass Health Co. has a 1-year low of $82.38 and a 1-year high of $117.52. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 2.31 and a beta of 0.87.

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

Encompass Health Announces Dividend

The business 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 0.59%. Encompass Health's dividend payout ratio is currently 14.05%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EHC shares. Truist Financial reaffirmed a "buy" rating and set a $135.00 price objective (up previously from $116.00) on shares of Encompass Health in a report on Monday. KeyCorp increased their price objective on Encompass Health from $120.00 to $122.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Barclays raised their price objective on Encompass Health from $118.00 to $129.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. William Blair reaffirmed an "outperform" rating on shares of Encompass Health in a report on Friday, February 7th. Finally, StockNews.com upgraded shares of Encompass Health from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Encompass Health has a consensus rating of "Buy" and a consensus price target of $120.86.

About Encompass Health

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.