Allspring Global Investments Holdings LLC Acquires 21,082 Shares of Encompass Health Co. (NYSE:EHC)

Allspring Global Investments Holdings LLC increased its stake in shares of Encompass Health Co. (NYSE:EHC) by 321.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,638 shares of the company’s stock after purchasing an additional 21,082 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Encompass Health were worth $1,844,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in Encompass Health during the fourth quarter worth about $20,210,000. Nordea Investment Management AB lifted its holdings in shares of Encompass Health by 21.0% during the 4th quarter. Nordea Investment Management AB now owns 101,705 shares of the company’s stock valued at $6,787,000 after purchasing an additional 17,684 shares in the last quarter. Oak Thistle LLC grew its position in shares of Encompass Health by 19.1% in the 4th quarter. Oak Thistle LLC now owns 14,436 shares of the company’s stock valued at $963,000 after purchasing an additional 2,319 shares during the period. Sei Investments Co. increased its stake in Encompass Health by 6.7% during the 3rd quarter. Sei Investments Co. now owns 306,796 shares of the company’s stock worth $20,604,000 after purchasing an additional 19,254 shares in the last quarter. Finally, FMR LLC lifted its stake in Encompass Health by 11.6% in the third quarter. FMR LLC now owns 1,374,755 shares of the company’s stock valued at $92,329,000 after buying an additional 142,633 shares in the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

Encompass Health Stock Performance

Shares of EHC stock opened at $80.29 on Tuesday. The company has a 50-day simple moving average of $77.52 and a 200 day simple moving average of $70.47. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.47 and a beta of 0.94. Encompass Health Co. has a 52 week low of $57.55 and a 52 week high of $83.73.

Encompass Health (NYSE:EHC) last announced its earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. Encompass Health had a return on equity of 17.69% and a net margin of 7.33%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. On average, sell-side analysts predict that Encompass Health Co. will post 3.96 earnings per share for the current year.

Encompass Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, March 28th. Encompass Health’s dividend payout ratio is 17.29%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Encompass Health from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Stephens reiterated an “overweight” rating and set a $85.00 price objective on shares of Encompass Health in a report on Tuesday, January 16th. Mizuho lifted their price target on shares of Encompass Health from $77.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 9th. William Blair restated an “outperform” rating on shares of Encompass Health in a report on Wednesday, February 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $83.00 target price on shares of Encompass Health in a report on Friday, February 9th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $83.22.

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.