Westfield Capital Management Co. LP Acquires New Holdings in The Ensign Group, Inc. (NASDAQ:ENSG)

Westfield Capital Management Co. LP bought a new stake in The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 131,021 shares of the company's stock, valued at approximately $18,843,000. Westfield Capital Management Co. LP owned approximately 0.23% of The Ensign Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENSG. Opal Wealth Advisors LLC bought a new stake in shares of The Ensign Group during the 2nd quarter worth approximately $31,000. EntryPoint Capital LLC acquired a new stake in The Ensign Group in the first quarter valued at $34,000. Signaturefd LLC grew its position in shares of The Ensign Group by 115.2% in the 3rd quarter. Signaturefd LLC now owns 284 shares of the company's stock valued at $41,000 after acquiring an additional 152 shares during the period. LRI Investments LLC bought a new position in shares of The Ensign Group in the 1st quarter valued at about $45,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of The Ensign Group during the 2nd quarter worth about $49,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Ensign Group news, CEO Barry Port sold 2,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $155.00, for a total transaction of $310,000.00. Following the sale, the chief executive officer now directly owns 53,716 shares in the company, valued at $8,325,980. This represents a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.90% of the company's stock.

The Ensign Group Stock Performance

ENSG stock traded down $1.16 during trading hours on Monday, hitting $145.20. 355,985 shares of the stock were exchanged, compared to its average volume of 377,947. The company has a 50-day simple moving average of $148.76 and a two-hundred day simple moving average of $138.14. The firm has a market capitalization of $8.32 billion, a P/E ratio of 35.16, a P/E/G ratio of 1.94 and a beta of 0.95. The Ensign Group, Inc. has a 12 month low of $104.18 and a 12 month high of $158.45. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.08.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. The Ensign Group had a net margin of 5.84% and a return on equity of 17.21%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the company earned $1.10 EPS. The business's revenue was up 15.0% on a year-over-year basis. On average, analysts forecast that The Ensign Group, Inc. will post 5.02 earnings per share for the current fiscal year.

The Ensign Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Monday, September 30th. The Ensign Group's dividend payout ratio is currently 5.81%.

Analyst Ratings Changes

A number of research firms recently commented on ENSG. UBS Group began coverage on The Ensign Group in a report on Thursday. They set a "buy" rating and a $175.00 price target for the company. Stephens lifted their target price on The Ensign Group from $163.00 to $167.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Royal Bank of Canada increased their price target on The Ensign Group from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Truist Financial upped their price objective on shares of The Ensign Group from $160.00 to $170.00 and gave the company a "hold" rating in a report on Monday, October 28th. Finally, Oppenheimer raised their target price on shares of The Ensign Group from $165.00 to $168.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, The Ensign Group currently has a consensus rating of "Moderate Buy" and an average price target of $164.33.

About The Ensign Group

The Ensign Group, Inc provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The company's Skilled Services segment engages in the operation of skilled nursing facilities and rehabilitation therapy services for patients with chronic conditions, prolonged illness, and the elderly; and offers nursing facilities including specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management, as well as standard services comprising room and board, special nutritional programs, social services, recreational activities, entertainment, and other services.