California Public Employees Retirement System Acquires 317,730 Shares of Encompass Health Co. (NYSE:EHC)

California Public Employees Retirement System increased its holdings in shares of Encompass Health Co. (NYSE:EHC) by 160.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 515,717 shares of the company’s stock after purchasing an additional 317,730 shares during the quarter. California Public Employees Retirement System’s holdings in Encompass Health were worth $34,409,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in Encompass Health during the 4th quarter worth approximately $30,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Encompass Health in the 3rd quarter valued at approximately $35,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Encompass Health in the 3rd quarter valued at approximately $109,000. Acadian Asset Management LLC acquired a new stake in shares of Encompass Health in the 3rd quarter valued at approximately $111,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Encompass Health by 14.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,713 shares of the company’s stock valued at $182,000 after buying an additional 347 shares during the last quarter. 97.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EHC has been the subject of several recent analyst reports. Raymond James reissued a “strong-buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Encompass Health in a report on Friday. Barclays increased their price objective on Encompass Health from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial raised their price target on Encompass Health from $82.00 to $86.00 and gave the company a “buy” rating in a report on Friday, February 9th. Stephens reaffirmed an “overweight” rating and set a $85.00 price target on shares of Encompass Health in a report on Tuesday, January 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of Encompass Health in a report on Wednesday, February 7th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $86.56.

Encompass Health Price Performance

Encompass Health stock opened at $82.46 on Friday. The stock’s 50 day moving average is $78.25 and its 200 day moving average is $70.87. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.37 and a quick ratio of 1.28. The firm has a market cap of $8.26 billion, a P/E ratio of 22.29, a P/E/G ratio of 1.50 and a beta of 0.94. Encompass Health Co. has a one year low of $57.55 and a one year high of $85.84.

Encompass Health (NYSE:EHC) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.19. Encompass Health had a return on equity of 18.01% and a net margin of 7.60%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. Encompass Health’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts expect that Encompass Health Co. will post 4.04 EPS for the current year.

Encompass Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.73%. Encompass Health’s dividend payout ratio is presently 16.22%.

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.