Norges Bank Invests $100.64 Million in Encompass Health Co. (NYSE:EHC)

Norges Bank acquired a new position in Encompass Health Co. (NYSE:EHC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,089,733 shares of the company's stock, valued at approximately $100,637,000. Norges Bank owned approximately 1.08% of Encompass Health as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Encompass Health during the fourth quarter valued at about $77,944,000. Point72 Asset Management L.P. raised its holdings in shares of Encompass Health by 2,458.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 869,104 shares of the company's stock valued at $83,990,000 after buying an additional 835,135 shares in the last quarter. Jennison Associates LLC purchased a new stake in Encompass Health in the fourth quarter worth approximately $52,094,000. abrdn plc bought a new position in Encompass Health during the fourth quarter valued at approximately $17,846,000. Finally, Vanguard Group Inc. raised its stake in shares of Encompass Health by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 10,404,081 shares of the company's stock worth $960,817,000 after acquiring an additional 138,196 shares in the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Encompass Health

In other news, CAO Andrew L. Price sold 5,042 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $98.29, for a total transaction of $495,578.18. Following the sale, the chief accounting officer now directly owns 69,164 shares in the company, valued at approximately $6,798,129.56. This represents a 6.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

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Encompass Health Stock Down 3.7 %

Shares of Encompass Health stock traded down $3.73 during midday trading on Friday, hitting $98.14. The company had a trading volume of 1,218,251 shares, compared to its average volume of 646,649. The company has a 50 day moving average of $99.25 and a 200 day moving average of $97.75. The stock has a market capitalization of $9.88 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.31 and a beta of 0.87. Encompass Health Co. has a 52-week low of $78.53 and a 52-week high of $104.55. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.04 and a current ratio of 1.05.

Encompass Health (NYSE:EHC - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.12. Encompass Health had a net margin of 8.48% and a return on equity of 17.56%. On average, equities analysts predict that Encompass Health Co. will post 4.8 earnings per share for the current fiscal year.

Encompass Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Tuesday, April 1st. Encompass Health's dividend payout ratio is presently 15.25%.

Analyst Ratings Changes

EHC has been the subject of several recent research reports. William Blair reiterated an "outperform" rating on shares of Encompass Health in a research report on Friday, February 7th. Barclays boosted their price target on Encompass Health from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, February 7th. StockNews.com lowered Encompass Health from a "buy" rating to a "hold" rating in a research report on Thursday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $110.00 price target on shares of Encompass Health in a research note on Tuesday, February 11th. Finally, KeyCorp upped their price objective on shares of Encompass Health from $117.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $107.67.

Encompass Health 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.