Truist Financial Corp Reduces Position in Encompass Health Corporation $EHC

Truist Financial Corp cut its position in shares of Encompass Health Corporation (NYSE:EHC) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,895 shares of the company’s stock after selling 761 shares during the period. Truist Financial Corp’s holdings in Encompass Health were worth $1,091,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EHC. Congress Asset Management Co. purchased a new position in shares of Encompass Health during the 2nd quarter worth about $92,691,000. Nuveen LLC purchased a new position in shares of Encompass Health during the 1st quarter worth about $50,665,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Encompass Health by 25.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,080,918 shares of the company’s stock worth $210,756,000 after purchasing an additional 424,691 shares during the period. Strs Ohio purchased a new position in shares of Encompass Health during the 1st quarter worth about $34,364,000. Finally, American Century Companies Inc. lifted its holdings in Encompass Health by 78.6% during the 1st quarter. American Century Companies Inc. now owns 723,169 shares of the company’s stock valued at $73,243,000 after buying an additional 318,251 shares in the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

Encompass Health Trading Down 0.9%

NYSE:EHC opened at $122.02 on Monday. Encompass Health Corporation has a one year low of $87.85 and a one year high of $127.86. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $12.29 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.14 and a beta of 0.93. The firm has a 50-day simple moving average of $122.73 and a 200-day simple moving average of $116.61.

Encompass Health (NYSE:EHC) last posted its quarterly earnings results on Wednesday, March 16th. The company reported $0.93 EPS for the quarter. Encompass Health had a net margin of 9.22% and a return on equity of 17.83%. The business had revenue of $136.30 million during the quarter. Encompass Health has set its FY22 guidance at $3.83-$4.19 EPS. Equities analysts anticipate that Encompass Health Corporation will post 4.8 EPS for the current fiscal year.

Encompass Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.19 per share. This is a boost from Encompass Health’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, October 1st. This represents a $0.76 annualized dividend and a dividend yield of 0.6%. Encompass Health’s dividend payout ratio (DPR) is presently 14.87%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EHC. Weiss Ratings reiterated a “buy (b+)” rating on shares of Encompass Health in a report on Wednesday, October 8th. Truist Financial lifted their price objective on shares of Encompass Health from $135.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 14th. UBS Group lifted their price objective on shares of Encompass Health from $140.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Bank of America lifted their price objective on shares of Encompass Health from $145.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, KeyCorp lifted their price objective on shares of Encompass Health from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat, Encompass Health presently has a consensus rating of “Buy” and an average price target of $139.86.

Insider Activity at Encompass Health

In related news, EVP Patrick William Tuer sold 1,020 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $123.59, for a total transaction of $126,061.80. Following the completion of the transaction, the executive vice president owned 18,846 shares in the company, valued at $2,329,177.14. The trade was a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by company insiders.

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.