Fortaleza Asset Management Inc. Buys 2,355 Shares of HealthSouth Corporation (HLS)
Fortaleza Asset Management Inc. grew its stake in shares of HealthSouth Corporation (NYSE:HLS) by 99.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,727 shares of the company’s stock after acquiring an additional 2,355 shares during the period. Fortaleza Asset Management Inc.’s holdings in HealthSouth Corporation were worth $219,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in HLS. First Mercantile Trust Co. lifted its position in shares of HealthSouth Corporation by 18.8% during the 2nd quarter. First Mercantile Trust Co. now owns 2,720 shares of the company’s stock valued at $132,000 after acquiring an additional 430 shares during the last quarter. Acrospire Investment Management LLC lifted its position in shares of HealthSouth Corporation by 64.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,800 shares of the company’s stock valued at $136,000 after acquiring an additional 1,100 shares during the last quarter. Advisor Group Inc. lifted its position in shares of HealthSouth Corporation by 33.8% during the 2nd quarter. Advisor Group Inc. now owns 3,092 shares of the company’s stock valued at $149,000 after acquiring an additional 781 shares during the last quarter. Petrus Trust Company LTA acquired a new stake in shares of HealthSouth Corporation during the 2nd quarter valued at $210,000. Finally, HL Financial Services LLC acquired a new stake in shares of HealthSouth Corporation during the 2nd quarter valued at $213,000. Institutional investors own 93.11% of the company’s stock.
HLS has been the subject of a number of recent research reports. ValuEngine downgraded HealthSouth Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded HealthSouth Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Stephens initiated coverage on HealthSouth Corporation in a research report on Thursday, August 31st. They set an “overweight” rating and a $53.00 price objective for the company. Piper Jaffray Companies reiterated a “hold” rating and set a $50.00 price objective on shares of HealthSouth Corporation in a research report on Sunday, September 17th. Finally, KeyCorp reiterated a “hold” rating on shares of HealthSouth Corporation in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. HealthSouth Corporation presently has an average rating of “Hold” and a consensus target price of $50.75.
HealthSouth Corporation (NYSE:HLS) traded up 0.914% during mid-day trading on Tuesday, hitting $46.279. The stock had a trading volume of 546,815 shares. The company has a market cap of $4.57 billion, a P/E ratio of 16.866 and a beta of 0.58. HealthSouth Corporation has a 1-year low of $36.97 and a 1-year high of $49.71. The company has a 50-day moving average price of $45.39 and a 200 day moving average price of $45.61.
HealthSouth Corporation (NYSE:HLS) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $995.60 million for the quarter, compared to analysts’ expectations of $985.75 million. HealthSouth Corporation had a net margin of 6.69% and a return on equity of 22.81%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Equities research analysts forecast that HealthSouth Corporation will post $2.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.18%. HealthSouth Corporation’s dividend payout ratio is 36.36%.
In other news, CEO Mark J. Tarr sold 22,625 shares of HealthSouth Corporation stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $42.55, for a total transaction of $962,693.75. Following the transaction, the chief executive officer now directly owns 283,134 shares of the company’s stock, valued at $12,047,351.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.
About HealthSouth Corporation
HealthSouth Corporation (HealthSouth) is a provider of post-acute healthcare services, offering both facility-based and home-based post-acute services in 35 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. The Company manages its operations through segments, including inpatient rehabilitation, and home health and hospice.
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