Asset Management One Co. Ltd. Buys New Stake in Healthcare Services Group, Inc. (HCSG)

Asset Management One Co. Ltd. bought a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 13,297 shares of the business services provider’s stock, valued at approximately $725,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Healthcare Services Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 6,956,281 shares of the business services provider’s stock valued at $325,763,000 after purchasing an additional 123,503 shares during the period. Janus Henderson Group PLC grew its position in shares of Healthcare Services Group by 173.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,085,372 shares of the business services provider’s stock valued at $97,658,000 after purchasing an additional 1,322,948 shares during the period. Brown Advisory Inc. grew its position in shares of Healthcare Services Group by 3.3% in the 3rd quarter. Brown Advisory Inc. now owns 1,957,120 shares of the business services provider’s stock valued at $105,625,000 after purchasing an additional 63,232 shares during the period. State Street Corp grew its position in shares of Healthcare Services Group by 4.3% in the 2nd quarter. State Street Corp now owns 1,752,352 shares of the business services provider’s stock valued at $82,064,000 after purchasing an additional 71,873 shares during the period. Finally, Wasatch Advisors Inc. grew its position in shares of Healthcare Services Group by 24.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,248,276 shares of the business services provider’s stock valued at $67,369,000 after purchasing an additional 242,741 shares during the period. Institutional investors own 92.88% of the company’s stock.

Several equities analysts recently issued reports on the company. BidaskClub upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Friday. Robert W. Baird reiterated a “buy” rating and issued a $52.00 price objective on shares of Healthcare Services Group in a research report on Wednesday, October 4th. Jefferies Group reiterated a “hold” rating and issued a $49.00 price objective on shares of Healthcare Services Group in a research report on Friday, September 29th. Credit Suisse Group reiterated an “outperform” rating and issued a $62.00 price objective (up from $56.00) on shares of Healthcare Services Group in a research report on Friday, November 3rd. Finally, Zacks Investment Research lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Healthcare Services Group presently has a consensus rating of “Buy” and an average target price of $54.80.

Healthcare Services Group, Inc. (HCSG) opened at $54.70 on Friday. The stock has a market capitalization of $3,931.10, a P/E ratio of 45.08, a P/E/G ratio of 3.93 and a beta of 0.62. Healthcare Services Group, Inc. has a 12-month low of $37.54 and a 12-month high of $55.68.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, October 17th. The business services provider reported $0.31 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The firm had revenue of $491.40 million for the quarter, compared to analysts’ expectations of $485.53 million. Healthcare Services Group had a return on equity of 24.17% and a net margin of 5.00%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. equities research analysts expect that Healthcare Services Group, Inc. will post 1.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, November 17th will be paid a $0.19 dividend. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.76 annualized dividend and a yield of 1.39%. Healthcare Services Group’s payout ratio is presently 63.87%.

In other Healthcare Services Group news, insider Michael E. Mcbryan sold 22,500 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.03, for a total value of $1,193,175.00. Following the sale, the insider now owns 14,413 shares in the company, valued at approximately $764,321.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael E. Mcbryan sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $53.00, for a total value of $42,400.00. Following the completion of the sale, the executive vice president now owns 14,413 shares in the company, valued at approximately $763,889. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

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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 of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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