Legato Capital Management LLC Acquires 14,621 Shares of HealthSouth Corporation (HLS)
Legato Capital Management LLC grew its holdings in shares of HealthSouth Corporation (NYSE:HLS) by 80.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,823 shares of the company’s stock after buying an additional 14,621 shares during the quarter. Legato Capital Management LLC’s holdings in HealthSouth Corporation were worth $1,521,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Mercantile Trust Co. raised its position in HealthSouth Corporation by 18.8% in the 2nd quarter. First Mercantile Trust Co. now owns 2,720 shares of the company’s stock worth $132,000 after purchasing an additional 430 shares during the period. Acrospire Investment Management LLC raised its position in HealthSouth Corporation by 64.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,800 shares of the company’s stock worth $136,000 after purchasing an additional 1,100 shares during the period. Advisor Group Inc. raised its position in HealthSouth Corporation by 33.8% in the 2nd quarter. Advisor Group Inc. now owns 3,092 shares of the company’s stock worth $149,000 after purchasing an additional 781 shares during the period. Petrus Trust Company LTA purchased a new stake in HealthSouth Corporation in the 2nd quarter worth about $210,000. Finally, HL Financial Services LLC purchased a new stake in HealthSouth Corporation in the 2nd quarter worth about $213,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.
A number of analysts recently weighed in on the stock. Stephens assumed coverage on shares of HealthSouth Corporation in a research report on Thursday, August 31st. They issued an “overweight” rating and a $53.00 price objective on the stock. Zacks Investment Research raised shares of HealthSouth Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 target price on shares of HealthSouth Corporation in a research report on Wednesday, September 6th. KeyCorp reaffirmed a “hold” rating on shares of HealthSouth Corporation in a research report on Thursday, September 7th. Finally, ValuEngine raised shares of HealthSouth Corporation from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $51.75.
HealthSouth Corporation (NYSE:HLS) last announced its earnings results on Thursday, October 26th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. HealthSouth Corporation had a net margin of 6.69% and a return on equity of 22.81%. The firm had revenue of $995.60 million for the quarter, compared to the consensus estimate of $985.75 million. During the same period in the prior year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, December 29th. HealthSouth Corporation’s payout ratio is currently 36.36%.
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In related news, CEO Mark J. Tarr sold 22,625 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $43.00, for a total transaction of $972,875.00. Following the sale, the chief executive officer now directly owns 283,134 shares of the company’s stock, valued at approximately $12,174,762. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yvonne M. Curl bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were acquired at an average cost of $45.95 per share, for a total transaction of $45,950.00. Following the completion of the purchase, the director now owns 64,144 shares in the company, valued at $2,947,416.80. The disclosure for this purchase can be found here. 1.60% of the stock is owned by corporate insiders.
About HealthSouth Corporation
HealthSouth Corporation (HealthSouth) is a provider of post-acute healthcare services, offering both facility-based and home-based post-acute services in 35 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. The Company manages its operations through segments, including inpatient rehabilitation, and home health and hospice.
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