Wedge Capital Management L L P NC Has $7.91 Million Position in Encompass Health Co. (NYSE:EHC)

Wedge Capital Management L L P NC cut its holdings in Encompass Health Co. (NYSE:EHC - Free Report) by 18.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,815 shares of the company's stock after selling 17,916 shares during the period. Wedge Capital Management L L P NC owned 0.08% of Encompass Health worth $7,907,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in Encompass Health by 387.7% during the third quarter. UMB Bank n.a. now owns 317 shares of the company's stock worth $31,000 after purchasing an additional 252 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in Encompass Health in the second quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. lifted its position in Encompass Health by 58.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 534 shares of the company's stock valued at $46,000 after purchasing an additional 198 shares during the period. GAMMA Investing LLC lifted its position in shares of Encompass Health by 31.9% during the 1st quarter. GAMMA Investing LLC now owns 616 shares of the company's stock valued at $51,000 after acquiring an additional 149 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Encompass Health during the 2nd quarter worth approximately $58,000. 97.25% of the stock is currently owned by institutional investors and hedge funds.

Encompass Health Price Performance

Shares of Encompass Health stock traded up $0.05 on Tuesday, hitting $96.35. The company had a trading volume of 310,113 shares, compared to its average volume of 628,576. The business has a 50-day simple moving average of $92.18 and a 200-day simple moving average of $87.54. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $9.70 billion, a PE ratio of 26.04, a PEG ratio of 1.43 and a beta of 0.88. Encompass Health Co. has a 52 week low of $57.55 and a 52 week high of $97.56.

Encompass Health (NYSE:EHC - Get Free Report) last issued its earnings results on Monday, August 5th. The company reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.10. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.30 billion. Encompass Health had a net margin of 7.88% and a return on equity of 17.83%. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. Research analysts expect that Encompass Health Co. will post 4.18 EPS for the current fiscal year.

Encompass Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.17 dividend. This is a positive change from Encompass Health's previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 0.71%. Encompass Health's dividend payout ratio (DPR) is currently 18.38%.

Encompass Health declared that its board has authorized a share repurchase plan on Wednesday, July 24th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have commented on EHC shares. Leerink Partners initiated coverage on shares of Encompass Health in a research note on Wednesday, July 10th. They issued an "outperform" rating and a $100.00 target price for the company. Stephens reissued an "overweight" rating and issued a $105.00 price objective on shares of Encompass Health in a research report on Tuesday, August 6th. Barclays decreased 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. KeyCorp initiated coverage on shares of Encompass Health in a research note on Friday. They issued an "overweight" rating and a $115.00 target price on the stock. Finally, Truist Financial increased their price objective on shares of Encompass Health from $104.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday. Eight research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $104.67.

Insider Buying and Selling

In other Encompass Health news, CFO Douglas E. Coltharp sold 12,260 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $86.34, for a total value of $1,058,528.40. Following the completion of the sale, the chief financial officer now owns 136,227 shares in the company, valued at $11,761,839.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company's stock.

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.