Whittier Trust Co. boosted its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,372 shares of the business services provider’s stock after buying an additional 1,286 shares during the period. Whittier Trust Co. owned about 0.06% of Healthcare Services Group worth $2,031,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Dubuque Bank & Trust Co. raised its stake in shares of Healthcare Services Group by 7.8% in the first quarter. Dubuque Bank & Trust Co. now owns 8,798 shares of the business services provider’s stock worth $379,000 after buying an additional 634 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Healthcare Services Group by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 16,580 shares of the business services provider’s stock worth $714,000 after buying an additional 250 shares during the last quarter. Strs Ohio raised its stake in shares of Healthcare Services Group by 6.9% in the first quarter. Strs Ohio now owns 7,700 shares of the business services provider’s stock worth $331,000 after buying an additional 500 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Healthcare Services Group by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 101,686 shares of the business services provider’s stock worth $4,382,000 after buying an additional 6,307 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Healthcare Services Group by 6.5% in the first quarter. Vanguard Group Inc. now owns 6,832,778 shares of the business services provider’s stock worth $294,424,000 after buying an additional 418,676 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.
Healthcare Services Group, Inc. (HCSG) opened at 51.47 on Thursday. The company has a market cap of $3.77 billion, a P/E ratio of 45.15 and a beta of 0.61. The company has a 50-day moving average of $50.82 and a 200-day moving average of $45.94. Healthcare Services Group, Inc. has a 52 week low of $34.83 and a 52 week 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. The company had revenue of $470.90 million during the quarter, compared to analysts’ expectations of $425.24 million. During the same quarter last year, the company posted $0.26 EPS. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts predict that Healthcare Services Group, Inc. will post $1.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 18th will be given a $0.1888 dividend. This represents a $0.76 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is currently 65.22%.
A number of analysts recently issued reports on HCSG shares. Credit Suisse Group started coverage on Healthcare Services Group in a report on Friday, May 19th. They issued an “outperform” rating and a $50.00 price target for the company. Robert W. Baird boosted their price target on Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, July 12th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 price target (up previously from $41.00) on shares of Healthcare Services Group in a report on Tuesday, June 6th. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective (up previously from $48.00) on shares of Healthcare Services Group in a research note on Wednesday, July 12th. Finally, BidaskClub downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Healthcare Services Group presently has an average rating of “Buy” and a consensus target price of $53.00.
In other Healthcare Services Group news, Director John Briggs sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $47.52, for a total value of $118,800.00. Following the completion of the transaction, the director now owns 22,017 shares of the company’s stock, valued at approximately $1,046,247.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Frome sold 7,485 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $47.00, for a total transaction of $351,795.00. Following the completion of the transaction, the director now directly owns 37,986 shares of the company’s stock, valued at approximately $1,785,342. The disclosure for this sale can be found here. Insiders sold a total of 49,235 shares of company stock valued at $2,494,065 in the last three months. 4.30% of the stock is currently owned by corporate 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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