State of Michigan Retirement System Raises Position in Encompass Health Co. (NYSE:EHC)

State of Michigan Retirement System increased its holdings in shares of Encompass Health Co. (NYSE:EHC) by 2.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 24,645 shares of the company’s stock after purchasing an additional 600 shares during the period. State of Michigan Retirement System’s holdings in Encompass Health were worth $2,035,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EHC. Principal Securities Inc. purchased a new stake in shares of Encompass Health during the fourth quarter worth about $25,000. Benjamin F. Edwards & Company Inc. increased its stake in Encompass Health by 360.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 405 shares of the company’s stock valued at $27,000 after purchasing an additional 317 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Encompass Health during the fourth quarter valued at $30,000. GAMMA Investing LLC acquired a new stake in Encompass Health during the 4th quarter worth about $33,000. Finally, Parallel Advisors LLC grew its stake in Encompass Health by 192.3% during the 4th quarter. Parallel Advisors LLC now owns 573 shares of the company’s stock valued at $38,000 after purchasing an additional 377 shares during the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

Encompass Health Price Performance

NYSE:EHC opened at $86.04 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.14. Encompass Health Co. has a 52 week low of $57.55 and a 52 week high of $87.94. The stock’s 50-day moving average price is $85.07 and its 200-day moving average price is $77.97. The stock has a market capitalization of $8.66 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Encompass Health (NYSE:EHC) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.93 by $0.19. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.27 billion. Encompass Health had a return on equity of 18.01% and a net margin of 7.60%. Encompass Health’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. As a group, equities analysts expect that Encompass Health Co. will post 4.1 EPS for the current fiscal year.

Encompass Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.15 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.70%. Encompass Health’s dividend payout ratio (DPR) is 16.22%.

Analyst Ratings Changes

A number of equities research analysts recently commented on EHC shares. Stephens reaffirmed an “overweight” rating and set a $94.00 target price on shares of Encompass Health in a report on Wednesday, June 5th. Royal Bank of Canada increased their price objective on shares of Encompass Health from $83.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Raymond James reaffirmed a “strong-buy” rating and set a $95.00 price target (up from $85.00) on shares of Encompass Health in a research report on Friday, April 26th. Barclays boosted their price objective on Encompass Health from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, Mizuho raised their target price on Encompass Health from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $93.29.

Insider Transactions at Encompass Health

In related news, insider Elissa Joy Charbonneau sold 10,000 shares of Encompass Health stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $85.02, for a total value of $850,200.00. Following the sale, the insider now directly owns 18,594 shares in the company, valued at approximately $1,580,861.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Encompass Health news, insider Elissa Joy Charbonneau sold 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $85.02, for a total value of $850,200.00. Following the transaction, the insider now owns 18,594 shares in the company, valued at approximately $1,580,861.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg D. Carmichael bought 2,000 shares of Encompass Health stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $83.73 per share, with a total value of $167,460.00. Following the completion of the transaction, the director now directly owns 17,050 shares of the company’s stock, valued at $1,427,596.50. The disclosure for this purchase can be found here. Insiders sold 69,519 shares of company stock valued at $5,816,091 over the last 90 days. Corporate insiders own 2.10% 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.