SFE Investment Counsel lowered its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 45.7% during the second quarter, Holdings Channel reports. The firm owned 21,315 shares of the business services provider’s stock after selling 17,948 shares during the period. SFE Investment Counsel’s holdings in Healthcare Services Group were worth $998,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Healthcare Services Group by 145,799.8% in the first quarter. BlackRock Inc. now owns 8,780,248 shares of the business services provider’s stock worth $378,341,000 after buying an additional 8,774,230 shares during the period. Vanguard Group Inc. increased its position in shares of Healthcare Services Group by 6.5% in the first quarter. Vanguard Group Inc. now owns 6,832,778 shares of the business services provider’s stock worth $294,424,000 after buying an additional 418,676 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Healthcare Services Group by 25.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 979,394 shares of the business services provider’s stock worth $42,202,000 after buying an additional 199,082 shares during the period. State Street Corp increased its position in shares of Healthcare Services Group by 8.5% in the first quarter. State Street Corp now owns 1,680,479 shares of the business services provider’s stock worth $72,412,000 after buying an additional 131,987 shares during the period. Finally, American Capital Management Inc. increased its position in shares of Healthcare Services Group by 53.9% in the first quarter. American Capital Management Inc. now owns 327,914 shares of the business services provider’s stock worth $14,130,000 after buying an additional 114,855 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group, Inc. (HCSG) opened at 51.86 on Tuesday. The stock has a 50 day moving average price of $50.57 and a 200 day moving average price of $45.81. Healthcare Services Group, Inc. has a 52-week low of $34.83 and a 52-week high of $54.28. The firm has a market cap of $3.80 billion, a P/E ratio of 45.49 and a beta of 0.61.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, July 11th. The business services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $470.90 million for the quarter, compared to analysts’ expectations of $425.24 million. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. Healthcare Services Group’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. Equities analysts predict that Healthcare Services Group, Inc. will post $1.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 18th will be issued a $0.1888 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, August 16th. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s payout ratio is 65.22%.

TRADEMARK VIOLATION WARNING: This piece of content was first published by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/healthcare-services-group-inc-hcsg-stake-cut-by-sfe-investment-counsel/1490158.html.

Several equities analysts have recently commented on HCSG shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price (up previously from $41.00) on shares of Healthcare Services Group in a research report on Tuesday, June 6th. Credit Suisse Group started coverage on Healthcare Services Group in a research report on Friday, May 19th. They issued an “outperform” rating and a $50.00 target price on the stock. Zacks Investment Research raised Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday, July 14th. Stifel Nicolaus upped their target price on Healthcare Services Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Finally, BidaskClub raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Healthcare Services Group has an average rating of “Buy” and an average target price of $53.00.

In related news, Director Robert L. Frome sold 7,485 shares of Healthcare Services Group stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $47.00, for a total value of $351,795.00. Following the sale, the director now owns 37,986 shares of the company’s stock, valued at approximately $1,785,342. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Christopher Shea sold 4,750 shares of Healthcare Services Group stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $52.00, for a total transaction of $247,000.00. Following the completion of the sale, the chief financial officer now directly owns 7,157 shares in the company, valued at approximately $372,164. The disclosure for this sale can be found here. Insiders sold a total of 49,235 shares of company stock worth $2,494,065 in the last ninety days. 4.30% of the stock is currently owned by insiders.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

Want to see what other hedge funds are holding HCSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Healthcare Services Group, Inc. (NASDAQ:HCSG).

Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

Receive News & Ratings for Healthcare Services Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Healthcare Services Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.