Teacher Retirement System of Texas boosted its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Rating) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,365 shares of the business services provider's stock after acquiring an additional 977 shares during the quarter. Teacher Retirement System of Texas' holdings in Healthcare Services Group were worth $285,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HCSG. Advisor Group Holdings Inc. increased its holdings in shares of Healthcare Services Group by 7.7% in the first quarter. Advisor Group Holdings Inc. now owns 10,992 shares of the business services provider's stock valued at $204,000 after purchasing an additional 782 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Healthcare Services Group by 6.8% in the first quarter. National Bank of Canada FI now owns 17,759 shares of the business services provider's stock valued at $329,000 after purchasing an additional 1,137 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of Healthcare Services Group by 1.4% in the first quarter. North Star Investment Management Corp. now owns 84,445 shares of the business services provider's stock valued at $1,568,000 after purchasing an additional 1,150 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Healthcare Services Group by 403.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,546 shares of the business services provider's stock valued at $27,000 after acquiring an additional 1,239 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Healthcare Services Group by 6.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,967 shares of the business services provider's stock valued at $668,000 after acquiring an additional 2,123 shares in the last quarter.
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Analysts Set New Price Targets
Several equities analysts recently commented on HCSG shares. StockNews.com upgraded shares of Healthcare Services Group from a "sell" rating to a "hold" rating in a research note on Tuesday, June 28th. Credit Suisse Group decreased their price target on shares of Healthcare Services Group to $15.00 in a research note on Friday, July 22nd. Finally, Robert W. Baird decreased their price target on shares of Healthcare Services Group from $23.00 to $15.00 in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, Healthcare Services Group currently has an average rating of "Hold" and a consensus target price of $15.88.
Healthcare Services Group Stock Down 3.0 %
Shares of Healthcare Services Group stock opened at $14.19 on Friday. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 35.48 and a beta of 0.22. Healthcare Services Group, Inc. has a 12-month low of $13.66 and a 12-month high of $28.68. The firm's 50-day moving average price is $15.76 and its two-hundred day moving average price is $16.66.
Healthcare Services Group (NASDAQ:HCSG – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). The firm 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 quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, sell-side analysts expect that Healthcare Services Group, Inc. will post 0.44 earnings per share for the current year.
Healthcare Services Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 19th will be issued a $0.2138 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 6.03%. This is a boost from Healthcare Services Group's previous quarterly dividend of $0.21. Healthcare Services Group's dividend payout ratio is 215.00%.
Healthcare Services Group Company Profile
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Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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