iA Global Asset Management Inc. Purchases New Position in Encompass Health Corporation $EHC

iA Global Asset Management Inc. purchased a new stake in shares of Encompass Health Corporation (NYSE:EHC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 59,841 shares of the company’s stock, valued at approximately $7,338,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WPG Advisers LLC purchased a new stake in Encompass Health in the first quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Encompass Health by 749.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 416 shares of the company’s stock worth $42,000 after purchasing an additional 367 shares during the period. Park Place Capital Corp purchased a new stake in Encompass Health in the second quarter worth about $72,000. Caitong International Asset Management Co. Ltd grew its holdings in Encompass Health by 19.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 720 shares of the company’s stock worth $73,000 after purchasing an additional 115 shares during the period. Finally, SVB Wealth LLC purchased a new stake in Encompass Health in the first quarter worth about $84,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a “buy (b+)” rating on shares of Encompass Health in a report on Wednesday, October 8th. Bank of America upped their price objective on shares of Encompass Health from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. KeyCorp upped their price objective on shares of Encompass Health from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Truist Financial upped their price objective on shares of Encompass Health from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. Finally, Zacks Research upgraded shares of Encompass Health from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $142.86.

Insiders Place Their Bets

In related news, EVP Patrick William Tuer sold 1,020 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 18,846 shares in the company, valued at $2,329,177.14. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

Encompass Health Trading Down 2.5%

Shares of NYSE EHC opened at $113.86 on Monday. The firm’s 50 day moving average price is $124.22 and its 200-day moving average price is $119.10. The company has a market cap of $11.47 billion, a PE ratio of 21.52, a P/E/G ratio of 2.20 and a beta of 0.93. Encompass Health Corporation has a 52-week low of $87.85 and a 52-week high of $127.99. 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 (NYSE:EHC) last issued its quarterly earnings data on Wednesday, March 16th. The company reported $0.93 earnings per share for the quarter. The company had revenue of $136.30 million for the quarter. Encompass Health had a net margin of 9.33% and a return on equity of 18.19%. Encompass Health has set its FY22 guidance at $3.83-$4.19 EPS. On average, equities research analysts expect that Encompass Health Corporation will post 4.8 EPS for the current fiscal year.

Encompass Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be given a dividend of $0.19 per share. The ex-dividend date is Friday, January 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 0.7%. Encompass Health’s dividend payout ratio is 14.37%.

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.