Ontario Teachers Pension Plan Board Sells 36,346 Shares of Encompass Health Co. (NYSE:EHC)

Ontario Teachers Pension Plan Board reduced its holdings in shares of Encompass Health Co. (NYSE:EHC) by 65.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,077 shares of the company’s stock after selling 36,346 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Encompass Health were worth $1,844,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Encompass Health in the 3rd quarter valued at $1,778,000. Commerce Bank boosted its stake in Encompass Health by 2.6% in the 3rd quarter. Commerce Bank now owns 7,835 shares of the company’s stock valued at $757,000 after purchasing an additional 200 shares during the period. Segall Bryant & Hamill LLC boosted its stake in Encompass Health by 12.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 160,137 shares of the company’s stock valued at $15,476,000 after purchasing an additional 17,902 shares during the period. Avior Wealth Management LLC bought a new stake in Encompass Health in the 3rd quarter valued at $40,000. Finally, PNC Financial Services Group Inc. boosted its stake in Encompass Health by 14.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 44,017 shares of the company’s stock valued at $4,254,000 after purchasing an additional 5,647 shares during the period. 97.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EHC has been the subject of several recent research reports. Stephens restated an “overweight” rating and issued a $105.00 price target on shares of Encompass Health in a research note on Tuesday, August 6th. Barclays lifted their price objective on Encompass Health from $109.00 to $116.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. UBS Group lifted their price objective on Encompass Health from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Royal Bank of Canada lifted their price objective on Encompass Health from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, KeyCorp lifted their price objective on Encompass Health from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Nine investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Encompass Health has a consensus rating of “Buy” and a consensus price target of $107.11.

Encompass Health Price Performance

Shares of EHC opened at $99.08 on Wednesday. Encompass Health Co. has a 12-month low of $63.78 and a 12-month high of $104.55. The business has a 50-day simple moving average of $96.69 and a two-hundred day simple moving average of $90.58. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $9.98 billion, a PE ratio of 23.93, a PEG ratio of 1.31 and a beta of 0.88.

Encompass Health (NYSE:EHC) last issued its earnings results on Monday, October 28th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. Encompass Health had a return on equity of 17.60% and a net margin of 8.10%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts anticipate that Encompass Health Co. will post 4.29 earnings per share for the current fiscal year.

Encompass Health declared that its Board of Directors has initiated a share repurchase program on Wednesday, July 24th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Encompass Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.69%. Encompass Health’s payout ratio is presently 16.43%.

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.