Fred Alger Management LLC Sells 14,804 Shares of Encompass Health Co. (NYSE:EHC)

Fred Alger Management LLC trimmed its stake in Encompass Health Co. (NYSE:EHC) by 48.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,837 shares of the company’s stock after selling 14,804 shares during the period. Fred Alger Management LLC’s holdings in Encompass Health were worth $1,463,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Encompass Health by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 644,764 shares of the company’s stock valued at $59,544,000 after buying an additional 4,345 shares during the period. Merit Financial Group LLC purchased a new position in Encompass Health during the 4th quarter valued at about $374,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Encompass Health during the fourth quarter worth about $4,160,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Encompass Health by 87.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 293 shares of the company’s stock valued at $27,000 after purchasing an additional 137 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Encompass Health by 9.6% during the fourth quarter. US Bancorp DE now owns 1,380 shares of the company’s stock valued at $127,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EHC shares. Truist Financial reaffirmed a “buy” rating and set a $135.00 price objective (up previously from $116.00) on shares of Encompass Health in a research report on Monday, April 28th. StockNews.com raised Encompass Health from a “hold” rating to a “buy” rating in a research report on Sunday. Barclays increased their price objective on shares of Encompass Health from $118.00 to $129.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. William Blair reaffirmed an “outperform” rating on shares of Encompass Health in a report on Friday, February 7th. Finally, Royal Bank of Canada increased their price target on shares of Encompass Health from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Encompass Health has a consensus rating of “Buy” and a consensus target price of $120.86.

Insider Buying and Selling

In related news, insider Elissa Joy Charbonneau sold 4,279 shares of Encompass Health stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $116.61, for a total transaction of $498,974.19. Following the transaction, the insider now directly owns 11,958 shares in the company, valued at approximately $1,394,422.38. The trade was a 26.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Patrick Darby sold 10,000 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $114.79, for a total value of $1,147,900.00. Following the completion of the sale, the executive vice president now owns 79,710 shares of the company’s stock, valued at approximately $9,149,910.90. The trade was a 11.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,321 shares of company stock valued at $2,142,452. 2.00% of the stock is owned by insiders.

Encompass Health Stock Up 0.5 %

Shares of Encompass Health stock opened at $116.45 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Encompass Health Co. has a twelve month low of $82.74 and a twelve month high of $118.27. The company has a market cap of $11.74 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 2.31 and a beta of 0.91. The company’s 50 day moving average is $103.44 and its 200 day moving average is $99.96.

Encompass Health (NYSE:EHC) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.18. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. Encompass Health had a return on equity of 17.56% and a net margin of 8.48%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. Research analysts anticipate that Encompass Health Co. will post 4.8 EPS for the current year.

Encompass Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Tuesday, July 1st. Encompass Health’s dividend payout ratio (DPR) is presently 14.05%.

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.