State of New Jersey Common Pension Fund D Raises Holdings in Encompass Health Corporation $EHC

State of New Jersey Common Pension Fund D increased its stake in shares of Encompass Health Corporation (NYSE:EHC) by 12.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,930 shares of the company’s stock after acquiring an additional 3,373 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Encompass Health were worth $3,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of EHC. Asset Management One Co. Ltd. raised its holdings in Encompass Health by 691.9% during the 2nd quarter. Asset Management One Co. Ltd. now owns 56,773 shares of the company’s stock valued at $6,961,000 after buying an additional 49,604 shares during the last quarter. R Squared Ltd raised its stake in shares of Encompass Health by 123.5% during the second quarter. R Squared Ltd now owns 5,296 shares of the company’s stock valued at $649,000 after acquiring an additional 2,926 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Encompass Health by 279.9% during the second quarter. First Citizens Bank & Trust Co. now owns 10,276 shares of the company’s stock worth $1,260,000 after purchasing an additional 7,571 shares during the period. Bleakley Financial Group LLC bought a new stake in shares of Encompass Health in the second quarter worth about $1,306,000. Finally, Forum Financial Management LP increased its holdings in Encompass Health by 10.5% during the 2nd quarter. Forum Financial Management LP now owns 2,191 shares of the company’s stock valued at $269,000 after purchasing an additional 208 shares during the period. Institutional investors own 97.25% of the company’s stock.

Analyst Ratings Changes

EHC has been the subject of several research analyst reports. UBS Group increased their price objective on Encompass Health from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Zacks Research raised Encompass Health from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “buy (b+)” rating on shares of Encompass Health in a research report on Wednesday, October 8th. Bank of America upped their price objective on shares of Encompass Health from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, Truist Financial lifted their target price on shares of Encompass Health from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $139.86.

Encompass Health Price Performance

Shares of EHC opened at $127.28 on Tuesday. Encompass Health Corporation has a fifty-two week low of $87.85 and a fifty-two week high of $127.99. The firm’s 50-day simple moving average is $124.37 and its two-hundred day simple moving average is $118.48. The stock has a market cap of $12.82 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 2.21 and a beta of 0.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.06 and a current ratio of 1.06.

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

Encompass Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be paid a $0.19 dividend. The ex-dividend date is Friday, January 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 0.6%. Encompass Health’s payout ratio is presently 14.87%.

Insider Buying and Selling

In related news, EVP Patrick William Tuer sold 1,020 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $123.59, for a total transaction of $126,061.80. Following the sale, the executive vice president directly owned 18,846 shares of the company’s stock, valued at approximately $2,329,177.14. This represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company’s stock.

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.