Sumitomo Mitsui Trust Group Inc. Has $74.11 Million Stake in Encompass Health Co. (NYSE:EHC)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Encompass Health Co. (NYSE:EHC - Free Report) by 25.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 766,812 shares of the company's stock after selling 258,593 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.76% of Encompass Health worth $74,105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in shares of Encompass Health by 387.7% in the 3rd quarter. UMB Bank n.a. now owns 317 shares of the company's stock valued at $31,000 after purchasing an additional 252 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Encompass Health by 53.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 404 shares of the company's stock worth $39,000 after purchasing an additional 140 shares during the period. Oakworth Capital Inc. acquired a new position in shares of Encompass Health in the 2nd quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. increased its position in Encompass Health by 58.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 534 shares of the company's stock worth $46,000 after purchasing an additional 198 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Encompass Health during the second quarter valued at approximately $58,000. Institutional investors and hedge funds own 97.25% of the company's stock.

Encompass Health Trading Down 2.3 %

Shares of NYSE EHC traded down $2.37 during mid-day trading on Friday, hitting $98.84. 867,683 shares of the company traded hands, compared to its average volume of 641,581. The business has a 50 day moving average of $96.24 and a two-hundred day moving average of $90.15. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.36 and a beta of 0.88. Encompass Health Co. has a 1 year low of $63.59 and a 1 year high of $104.55. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

Encompass Health (NYSE:EHC - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.09. Encompass Health had a return on equity of 17.60% and a net margin of 8.10%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Encompass Health's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Encompass Health Co. will post 4.29 earnings per share for the current fiscal year.

Encompass Health declared that its Board of Directors has approved a share buyback plan on Wednesday, July 24th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Encompass Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, January 2nd. Encompass Health's dividend payout ratio (DPR) is presently 16.43%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EHC. Royal Bank of Canada lifted their target price on shares of Encompass Health from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Stephens reiterated an "overweight" rating and issued a $105.00 target price on shares of Encompass Health in a research note on Tuesday, August 6th. UBS Group upped their price target on Encompass Health from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Truist Financial reissued a "buy" rating and set a $116.00 target price (up from $108.00) on shares of Encompass Health in a research report on Wednesday, October 30th. Finally, KeyCorp lifted their price target on shares of Encompass Health from $115.00 to $117.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $107.11.

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.