Harvest Fund Management Co. Ltd Boosts Stake in The Ensign Group, Inc. (NASDAQ:ENSG)

Harvest Fund Management Co. Ltd increased its stake in shares of The Ensign Group, Inc. (NASDAQ:ENSG) by 79.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,889 shares of the company’s stock after buying an additional 1,281 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in The Ensign Group were worth $416,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ENSG. Dimensional Fund Advisors LP lifted its position in The Ensign Group by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,322,526 shares of the company’s stock worth $163,577,000 after acquiring an additional 35,862 shares during the period. Crewe Advisors LLC lifted its holdings in shares of The Ensign Group by 0.9% during the third quarter. Crewe Advisors LLC now owns 1,110,692 shares of the company’s stock worth $159,740,000 after purchasing an additional 10,221 shares during the period. Baillie Gifford & Co. purchased a new stake in The Ensign Group in the third quarter valued at approximately $151,827,000. Van Berkom & Associates Inc. increased its holdings in The Ensign Group by 2.1% in the 2nd quarter. Van Berkom & Associates Inc. now owns 877,211 shares of the company’s stock worth $108,502,000 after buying an additional 18,412 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in The Ensign Group by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 800,606 shares of the company’s stock worth $115,143,000 after buying an additional 23,381 shares during the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The Ensign Group

In related news, CEO Barry Port sold 2,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $155.00, for a total transaction of $310,000.00. Following the completion of the transaction, the chief executive officer now owns 53,716 shares in the company, valued at $8,325,980. This represents a 3.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.90% of the company’s stock.

The Ensign Group Trading Up 0.8 %

Shares of The Ensign Group stock opened at $146.34 on Wednesday. The Ensign Group, Inc. has a fifty-two week low of $104.18 and a fifty-two week high of $158.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $8.38 billion, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The firm has a 50-day simple moving average of $148.59 and a two-hundred day simple moving average of $138.33.

The Ensign Group (NASDAQ:ENSG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. The Ensign Group had a return on equity of 17.21% and a net margin of 5.84%. The Ensign Group’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. As a group, equities analysts predict that The Ensign Group, Inc. will post 5.02 earnings per share for the current fiscal year.

The Ensign Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Monday, September 30th. The Ensign Group’s dividend payout ratio is presently 5.81%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ENSG shares. UBS Group began coverage on shares of The Ensign Group in a report on Thursday, November 21st. They issued a “buy” rating and a $175.00 price objective on the stock. Oppenheimer upped their price target on shares of The Ensign Group from $165.00 to $168.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada lifted their price objective on The Ensign Group from $167.00 to $172.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Stephens upped their target price on The Ensign Group from $163.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, Truist Financial raised their target price on The Ensign Group from $160.00 to $170.00 and gave the stock a “hold” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.33.

About The Ensign Group

The Ensign Group, Inc provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The company's Skilled Services segment engages in the operation of skilled nursing facilities and rehabilitation therapy services for patients with chronic conditions, prolonged illness, and the elderly; and offers nursing facilities including specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management, as well as standard services comprising room and board, special nutritional programs, social services, recreational activities, entertainment, and other services.