Vanguard Group Inc. Increases Holdings in National HealthCare Co. (NHC)
Vanguard Group Inc. raised its holdings in shares of National HealthCare Co. (NYSEMKT:NHC) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 889,216 shares of the company’s stock after acquiring an additional 21,666 shares during the period. Vanguard Group Inc. owned approximately 5.85% of National HealthCare worth $62,369,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wells Fargo & Company MN lifted its stake in shares of National HealthCare by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 7,995 shares of the company’s stock valued at $561,000 after purchasing an additional 72 shares during the period. Legal & General Group Plc lifted its stake in shares of National HealthCare by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 2,769 shares of the company’s stock valued at $195,000 after purchasing an additional 81 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of National HealthCare by 0.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 44,843 shares of the company’s stock valued at $3,146,000 after purchasing an additional 356 shares during the period. Alliancebernstein L.P. lifted its stake in shares of National HealthCare by 2.7% in the 2nd quarter. Alliancebernstein L.P. now owns 15,336 shares of the company’s stock valued at $1,076,000 after purchasing an additional 400 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of National HealthCare by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 131,542 shares of the company’s stock valued at $9,226,000 after purchasing an additional 719 shares during the period.
Several research firms recently issued reports on NHC. BidaskClub upgraded shares of National HealthCare from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 18th. ValuEngine cut shares of National HealthCare from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd.
In other National HealthCare news, SVP Jeffrey Russell Smith sold 1,848 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $62.78, for a total value of $116,017.44. Following the completion of the sale, the senior vice president now owns 3,111 shares of the company’s stock, valued at $195,308.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
National HealthCare (NYSEMKT:NHC) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.70 earnings per share for the quarter. National HealthCare had a return on equity of 6.26% and a net margin of 4.41%. The firm had revenue of $239.46 million during the quarter.
National HealthCare announced that its board has approved a share repurchase plan on Wednesday, August 9th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, September 29th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, September 28th. National HealthCare’s dividend payout ratio is presently 52.94%.
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About National HealthCare
National HealthCare Corporation (NHC) is engaged in the operation of skilled nursing facilities, assisted living facilities, independent living facilities and homecare programs. The Company is engaged in the post-acute healthcare industry segment. Its business activities include providing sub-acute and post-acute skilled nursing care, intermediate nursing care, rehabilitative care, memory and Alzheimer’s care, senior living services, and home healthcare services.
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