Healthcare of Ontario Pension Plan Trust Fund Acquires New Stake in Encompass Health Corporation $EHC

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Encompass Health Corporation (NYSE:EHC) during the first quarter, HoldingsChannel.com reports. The fund bought 40,558 shares of the company’s stock, valued at approximately $3,923,000.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in shares of Encompass Health by 288.6% in the first quarter. Renaissance Technologies LLC now owns 265,000 shares of the company’s stock worth $25,633,000 after purchasing an additional 196,800 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in Encompass Health by 2.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 4,813 shares of the company’s stock valued at $466,000 after buying an additional 94 shares in the last quarter. Morningstar Investment Management LLC lifted its holdings in Encompass Health by 27.5% during the 1st quarter. Morningstar Investment Management LLC now owns 8,547 shares of the company’s stock valued at $827,000 after buying an additional 1,846 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Encompass Health by 1.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,182,574 shares of the company’s stock valued at $114,390,000 after buying an additional 18,740 shares during the period. Finally, Caxton Associates LLP bought a new position in Encompass Health in the 1st quarter worth about $2,082,000. 97.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Encompass Health

In other news, EVP Patrick William Tuer sold 682 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $104.56, for a total value of $71,309.92. Following the sale, the executive vice president directly owned 24,755 shares in the company, valued at approximately $2,588,382.80. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Encompass Health Trading Down 2.7%

Shares of NYSE:EHC opened at $110.71 on Friday. Encompass Health Corporation has a 12-month low of $92.77 and a 12-month high of $127.99. The business’s fifty day simple moving average is $105.63 and its 200-day simple moving average is $104.00. The company has a market capitalization of $10.98 billion, a PE ratio of 18.48, a P/E/G ratio of 2.48 and a beta of 0.74. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.76.

Encompass Health (NYSE:EHC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.09. Encompass Health had a return on equity of 18.28% and a net margin of 10.04%.The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the business posted $1.37 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that Encompass Health Corporation will post 5.96 earnings per share for the current fiscal year.

Encompass Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a $0.21 dividend. This is a boost from Encompass Health’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, October 1st. Encompass Health’s dividend payout ratio is presently 12.69%.

Wall Street Analyst Weigh In

EHC has been the subject of several research analyst reports. Wall Street Zen raised shares of Encompass Health from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Barclays dropped their price objective on Encompass Health from $153.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Leerink Partners set a $152.00 target price on Encompass Health in a research report on Friday, May 22nd. TD Cowen initiated coverage on Encompass Health in a report on Thursday, May 28th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Weiss Ratings cut shares of Encompass Health from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Encompass Health currently has an average rating of “Moderate Buy” and an average target price of $143.86.

About Encompass Health

Encompass Health Corporation is a leading provider of post‐acute healthcare services in the United States, operating a comprehensive network of inpatient rehabilitation hospitals and home health and hospice agencies. Its inpatient rehabilitation hospitals offer intensive therapy programs for patients recovering from conditions such as stroke, brain injury, spinal cord injury, cardiac and pulmonary disorders, and orthopedic procedures. Through its home health segment, Encompass Health delivers skilled nursing, physical therapy, occupational therapy and speech therapy to patients in the comfort of their homes, while its hospice services provide end‐of‐life care focused on symptom management and emotional support for patients and families.

Founded in 1984 as HealthSouth Corporation and rebranded as Encompass Health in 2018, the company has grown organically and through acquisitions to serve patients across more than 30 states.