Texas Permanent School Fund increased its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 53,290 shares of the business services provider’s stock after buying an additional 573 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Healthcare Services Group worth $2,496,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted its position in shares of Healthcare Services Group by 4.0% in the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock valued at $133,000 after buying an additional 108 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Healthcare Services Group during the first quarter valued at approximately $202,000. Emerald Advisers Inc. PA acquired a new position in shares of Healthcare Services Group during the first quarter valued at approximately $204,000. Harfst & Associates Inc. acquired a new position in shares of Healthcare Services Group during the first quarter valued at approximately $206,000. Finally, Everence Capital Management Inc. purchased a new stake in Healthcare Services Group during the first quarter valued at about $213,000. Institutional investors own 92.67% of the company’s stock.
Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) traded down 0.18% during trading on Friday, hitting $50.62. 301,423 shares of the stock traded hands. The stock has a 50 day moving average price of $51.02 and a 200-day moving average price of $46.05. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 44.40 and a beta of 0.61. Healthcare Services Group, Inc. has a 1-year low of $34.83 and a 1-year high of $54.28.
Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Tuesday, July 11th. The business services provider reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $470.90 million for the quarter, compared to the consensus estimate of $425.24 million. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Equities analysts forecast that Healthcare Services Group, Inc. will post $1.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 18th will be issued a $0.1888 dividend. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, August 16th. Healthcare Services Group’s payout ratio is 65.22%.
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Several analysts have issued reports on the stock. BidaskClub lowered shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Friday, July 14th. Credit Suisse Group reaffirmed an “outperform” rating and set a $56.00 price target (up from $50.00) on shares of Healthcare Services Group in a research report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price target (up from $48.00) on shares of Healthcare Services Group in a research report on Wednesday, July 12th. Finally, Robert W. Baird upped their price target on shares of Healthcare Services Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $53.00.
In related news, Director John Briggs sold 2,500 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $47.52, for a total value of $118,800.00. Following the sale, the director now directly owns 22,017 shares in the company, valued at approximately $1,046,247.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael E. Mcbryan sold 22,500 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.82, for a total value of $1,165,950.00. Following the completion of the sale, the insider now owns 32,542 shares in the company, valued at $1,686,326.44. The disclosure for this sale can be found here. Insiders sold a total of 49,235 shares of company stock worth $2,494,065 over the last three months. 4.30% of the stock is owned by insiders.
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 of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.
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