Bank of New York Mellon Corp Has $129.84 Million Holdings in Encompass Health Co. (NYSE:EHC)

Bank of New York Mellon Corp lessened its position in shares of Encompass Health Co. (NYSE:EHC) by 7.0% in the second quarter, HoldingsChannel.com reports. The firm owned 1,513,509 shares of the company’s stock after selling 114,250 shares during the quarter. Bank of New York Mellon Corp’s holdings in Encompass Health were worth $129,844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in Encompass Health during the 4th quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Encompass Health by 360.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 405 shares of the company’s stock worth $27,000 after buying an additional 317 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Encompass Health during the 4th quarter worth approximately $33,000. Parallel Advisors LLC grew its position in shares of Encompass Health by 192.3% during the 4th quarter. Parallel Advisors LLC now owns 573 shares of the company’s stock worth $38,000 after buying an additional 377 shares during the period. Finally, Oakworth Capital Inc. acquired a new stake in shares of Encompass Health during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 97.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EHC. Truist Financial raised their price objective on shares of Encompass Health from $100.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays reduced their price objective on shares of Encompass Health from $113.00 to $109.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. UBS Group raised their price objective on shares of Encompass Health from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their target price on Encompass Health from $83.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. Finally, Leerink Partnrs upgraded Encompass Health to a “strong-buy” rating in a report on Wednesday, July 10th. Nine analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $100.38.

Insider Buying and Selling at Encompass Health

In other news, CFO Douglas E. Coltharp sold 12,260 shares of Encompass Health stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $86.34, for a total transaction of $1,058,528.40. Following the sale, the chief financial officer now directly owns 136,227 shares in the company, valued at approximately $11,761,839.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Encompass Health Price Performance

Shares of NYSE:EHC opened at $90.93 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.14. The stock’s fifty day simple moving average is $87.23 and its two-hundred day simple moving average is $82.84. Encompass Health Co. has a 1-year low of $57.55 and a 1-year high of $94.38. The stock has a market cap of $9.16 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.45 and a beta of 0.89.

Encompass Health (NYSE:EHC) last issued its quarterly earnings data on Monday, August 5th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.10. Encompass Health had a return on equity of 18.01% and a net margin of 7.60%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the business earned $0.95 EPS. The business’s revenue was up 9.6% on a year-over-year basis. As a group, analysts forecast that Encompass Health Co. will post 4.09 EPS for the current fiscal year.

Encompass Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, October 1st. This is a boost from Encompass Health’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.75%. Encompass Health’s dividend payout ratio (DPR) is 18.38%.

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.