Phocas Financial Corp. Sells 5,026 Shares of Encompass Health Co. (NYSE:EHC)

Phocas Financial Corp. reduced its stake in Encompass Health Co. (NYSE:EHC) by 6.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 79,381 shares of the company’s stock after selling 5,026 shares during the quarter. Phocas Financial Corp.’s holdings in Encompass Health were worth $7,671,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its holdings in Encompass Health by 275.7% in the second quarter. Harbor Capital Advisors Inc. now owns 35,799 shares of the company’s stock worth $3,071,000 after acquiring an additional 26,270 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Encompass Health by 85.6% in the second quarter. QRG Capital Management Inc. now owns 14,365 shares of the company’s stock valued at $1,232,000 after buying an additional 6,627 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Encompass Health during the second quarter valued at about $2,204,000. Los Angeles Capital Management LLC increased its position in shares of Encompass Health by 532.4% during the third quarter. Los Angeles Capital Management LLC now owns 50,290 shares of the company’s stock worth $4,860,000 after acquiring an additional 42,338 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in Encompass Health by 19.6% during the 1st quarter. Kennedy Capital Management LLC now owns 99,720 shares of the company’s stock valued at $8,235,000 after purchasing an additional 16,318 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

Encompass Health Price Performance

EHC stock opened at $99.22 on Tuesday. The firm has a 50 day moving average of $96.54 and a 200-day moving average of $90.46. The firm has a market capitalization of $10.00 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.31 and a beta of 0.88. Encompass Health Co. has a 12 month low of $63.78 and a 12 month high of $104.55. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88.

Encompass Health (NYSE:EHC) last posted its quarterly earnings data on Monday, October 28th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.09. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Encompass Health had a return on equity of 17.60% and a net margin of 8.10%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. As a group, sell-side analysts predict that Encompass Health Co. will post 4.29 earnings per share for the current fiscal year.

Encompass Health declared that its board has approved a share buyback plan on Wednesday, July 24th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Encompass Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, January 2nd. Encompass Health’s dividend payout ratio is currently 16.43%.

Wall Street Analyst Weigh In

EHC has been the topic of several recent analyst reports. Royal Bank of Canada raised their price objective on Encompass Health from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group upped their target price on Encompass Health from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. KeyCorp boosted their price objective on Encompass Health from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Stephens reiterated an “overweight” rating and set a $105.00 target price on shares of Encompass Health in a research note on Tuesday, August 6th. Finally, 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. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Encompass Health currently has a consensus rating of “Buy” and a consensus target price of $107.11.

About Encompass Health

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.