Cornercap Investment Counsel Inc. Trims Stake in Encompass Health Co. (NYSE:EHC)

Cornercap Investment Counsel Inc. lessened its holdings in shares of Encompass Health Co. (NYSE:EHC) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,796 shares of the company’s stock after selling 224 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Encompass Health were worth $755,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in Encompass Health by 1.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 9,845 shares of the company’s stock valued at $845,000 after acquiring an additional 123 shares during the period. Legacy Wealth Asset Management LLC grew its holdings in shares of Encompass Health by 1.5% in the first quarter. Legacy Wealth Asset Management LLC now owns 8,619 shares of the company’s stock worth $712,000 after purchasing an additional 130 shares during the last quarter. Smith Group Asset Management LLC increased its stake in Encompass Health by 1.2% in the 1st quarter. Smith Group Asset Management LLC now owns 12,070 shares of the company’s stock worth $997,000 after buying an additional 140 shares during the period. Horrell Capital Management Inc. lifted its holdings in Encompass Health by 0.5% during the 1st quarter. Horrell Capital Management Inc. now owns 29,371 shares of the company’s stock valued at $2,425,000 after buying an additional 147 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Encompass Health by 31.9% in the 1st quarter. GAMMA Investing LLC now owns 616 shares of the company’s stock valued at $51,000 after buying an additional 149 shares during the period. Institutional investors own 97.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EHC shares. Truist Financial raised their target price on shares of Encompass Health from $100.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays reduced their price objective on Encompass Health from $113.00 to $109.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada upped their target price on Encompass Health from $83.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. Stephens restated an “overweight” rating and set a $105.00 price target on shares of Encompass Health in a research note on Tuesday, August 6th. Finally, Leerink Partnrs raised shares of Encompass Health to a “strong-buy” rating in a research note on Wednesday, July 10th. Nine equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $100.38.

Encompass Health Price Performance

Shares of EHC stock opened at $93.25 on Friday. The company has a market cap of $9.39 billion, a P/E ratio of 25.20, a PEG ratio of 1.39 and a beta of 0.88. 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 stock’s 50-day moving average is $89.30 and its 200 day moving average is $84.63. Encompass Health Co. has a 1-year low of $57.55 and a 1-year high of $94.38.

Encompass Health (NYSE:EHC) last released its quarterly earnings results on Monday, August 5th. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.10. The business had revenue of $1.30 billion for 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 company’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. Research analysts predict that Encompass Health Co. will post 4.18 earnings per share for the current fiscal year.

Encompass Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Tuesday, October 1st. This is a positive change from Encompass Health’s previous quarterly dividend of $0.15. Encompass Health’s dividend payout ratio is currently 18.38%.

Insider Buying and Selling

In other Encompass Health news, CFO Douglas E. Coltharp sold 12,260 shares of the stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 136,227 shares in the company, valued at $11,761,839.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.10% of the stock is owned by company insiders.

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.