Florida Retirement System State Board of Administration to Acquire 2,123 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)


The State Board of Administration of the Florida Retirement System has its interest in Healthcare Services Group, Inc. (NASDAQ:HCSGreceived rating) up 6.3% in Q1, according to the company in its most recent Form 13F filing with the SEC. The company owned 35,967 shares of the business services provider after purchasing an additional 2,123 shares during the quarter. The State Board of Administration’s Florida Retirement System holdings in Healthcare Services Group were worth $668,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares in HCSG. Hardy Reed LLC acquired a new position in Healthcare Services Group valued at $98,000 during the first quarter. Charles Schwab Investment Management Inc. increased its stake in Healthcare Services Group by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 929,366 shares of the corporate services provider, valued at $16,534,000, after purchasing an additional 78,241 shares last quarter. FinTrust Capital Advisors LLC acquired a new stake in Healthcare Services Group for approximately $80,000 during the first quarter. Laurel Wealth Advisors Inc. acquired a new stake in Healthcare Services Group for approximately $229,000 during the fourth quarter. Finally, the New York State Common Retirement Fund increased its position in Healthcare Services Group shares by 1.1% in the first quarter. The New York State Common Retirement Fund now owns 355,498 shares of the corporate services provider, valued at $6,602,000, having purchased an additional 3,801 shares during the period.

Wall Street analyst ponders

HCSG has been the subject of several recent research reports. StockNews.com upgraded the rating of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June th. Robert W. Baird lowered his target price on Healthcare Services Group shares from $23.00 to $15.00 in a research note on Thursday, July 21. The Royal Bank of Canada raised its target price on Healthcare Services Group shares to $20.00 from $17.00 and gave the stock a sector perform rating in a research note on Thursday, April 21. Finally, Credit Suisse Group lowered its target price on Healthcare Services Group shares to $15.00 in a research report on Friday, July 22. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.88.

Healthcare Services Group stock up 0.4%

Healthcare Services Group stock open at $15.00 on Wednesday. The company has a 50-day moving average price of $16.06 and a 200-day moving average price of $16.81. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 37.50 and a beta of 0.22. Healthcare Services Group, Inc. has a 52-week low of $13.66 and a 52-week high of $28.68.

Health Services Group (NASDAQ:HCSGreceived rating) last released its quarterly results on Wednesday, July 20th. The business services company reported earnings per share of $0.09 for the quarter, falling short of analyst consensus estimates of $0.12 ($0.03). The company had revenue of $424.90 million for the quarter, compared to analyst estimates of $427.22 million. Healthcare Services Group had a return on equity of 6.56% and a net margin of 1.77%. The company’s revenue rose 6.7% year over year. For the same period last year, the company posted earnings per share of $0.13. Research analysts expect Healthcare Services Group, Inc. to report earnings per share of 0.44 for the current year.

Healthcare Services Group raises dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 19 will receive a dividend of $0.2138 per share. The ex-dividend date is Thursday 18th August. That equates to a dividend of $0.86 on an annualized basis and a dividend yield of 5.70%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.21. Healthcare Services Group’s payout ratio is currently 212.50%.

Healthcare Services Group Profile

(received rating)

Healthcare Services Group, Inc provides management, administrative, and operational services for the housekeeping, laundry, laundry, facility maintenance, and nutritional services departments of nursing homes, retirement homes, rehabilitation centers, and hospitals throughout the United States. It operates through two segments: Housekeeping and Nutrition.

See also

Want to see what other hedge funds are holding HCSG? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Healthcare Services Group, Inc. (NASDAQ:HCSGreceived rating).

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



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