Teachers Retirement System of The State of Kentucky decreased its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 14.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,000 shares of the business services provider’s stock after selling 1,900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Healthcare Services Group were worth $447,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Bank of Montreal Can raised its position in Healthcare Services Group by 15.1% during the second quarter. Bank of Montreal Can now owns 12,402 shares of the business services provider’s stock worth $536,000 after acquiring an additional 1,630 shares during the period. Eqis Capital Management Inc. acquired a new position in Healthcare Services Group during the second quarter worth $222,000. Alps Advisors Inc. acquired a new position in Healthcare Services Group during the second quarter worth $695,000. TD Asset Management Inc. raised its position in Healthcare Services Group by 92.2% during the second quarter. TD Asset Management Inc. now owns 23,343 shares of the business services provider’s stock worth $1,008,000 after acquiring an additional 11,200 shares during the period. Finally, Wells Fargo & Company MN raised its position in Healthcare Services Group by 12.3% during the second quarter. Wells Fargo & Company MN now owns 413,303 shares of the business services provider’s stock worth $17,851,000 after acquiring an additional 45,139 shares during the period.
Shares of NASDAQ HCSG opened at $41.68 on Friday. The stock has a market capitalization of $3.07 billion, a PE ratio of 42.91 and a beta of 0.73. Healthcare Services Group, Inc. has a 52 week low of $35.04 and a 52 week high of $56.20.
Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, October 16th. The business services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The company had revenue of $506.90 million for the quarter, compared to analysts’ expectations of $510.27 million. Healthcare Services Group had a return on equity of 17.80% and a net margin of 3.59%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. Sell-side analysts anticipate that Healthcare Services Group, Inc. will post 1.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 23rd will be paid a $0.195 dividend. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.78 annualized dividend and a dividend yield of 1.87%. Healthcare Services Group’s dividend payout ratio (DPR) is presently 65.55%.
In other Healthcare Services Group news, Director Dino D. Ottaviano sold 700 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $46.98, for a total transaction of $32,886.00. Following the sale, the director now owns 1,244 shares of the company’s stock, valued at $58,443.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert J. Moss sold 5,001 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $43.95, for a total transaction of $219,793.95. Following the sale, the director now directly owns 5,001 shares in the company, valued at approximately $219,793.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,701 shares of company stock worth $347,780. 1.00% of the stock is owned by corporate insiders.
A number of research firms have weighed in on HCSG. Zacks Investment Research upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. BidaskClub upgraded shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 24th. Berenberg Bank began coverage on shares of Healthcare Services Group in a research report on Thursday, October 4th. They issued a “hold” rating and a $40.00 target price for the company. Finally, Stephens began coverage on shares of Healthcare Services Group in a research report on Tuesday, October 2nd. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Healthcare Services Group has an average rating of “Buy” and a consensus price target of $46.00.
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About Healthcare Services Group
Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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