Granite Investment Partners LLC increased its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 34,122 shares of the business services provider’s stock after buying an additional 137 shares during the period. Granite Investment Partners LLC’s holdings in Healthcare Services Group were worth $1,598,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HCSG. LS Investment Advisors LLC raised its stake in 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 worth $133,000 after buying an additional 108 shares during the period. HighTower Advisors LLC bought a new stake in Healthcare Services Group during the first quarter worth approximately $202,000. Emerald Advisers Inc. PA bought a new stake in Healthcare Services Group during the first quarter worth approximately $204,000. Harfst & Associates Inc. bought a new stake in Healthcare Services Group during the first quarter worth approximately $206,000. Finally, Everence Capital Management Inc. bought a new stake in Healthcare Services Group during the first quarter worth approximately $213,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Healthcare Services Group, Inc. (NASDAQ:HCSG) opened at 50.70 on Friday. The stock has a 50 day moving average price of $50.45 and a 200-day moving average price of $45.65. The firm has a market capitalization of $3.71 billion, a P/E ratio of 44.47 and a beta of 0.61. 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 announced its quarterly earnings results on Tuesday, July 11th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the 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 the consensus estimate of $425.24 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts anticipate that Healthcare Services Group, Inc. will post $1.25 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be issued a dividend of $0.1888 per share. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.76 annualized dividend and a dividend yield of 1.49%. Healthcare Services Group’s payout ratio is 65.22%.

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A number of equities research analysts have commented on the company. Credit Suisse Group assumed coverage on Healthcare Services Group in a research report on Friday, May 19th. They issued an “outperform” rating and a $50.00 price target on the stock. BidaskClub lowered Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Robert W. Baird upped their price target on Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, July 12th. They noted that the move was a valuation call. Zacks Investment Research upgraded 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. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price objective (up from $41.00) on shares of Healthcare Services Group in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $53.00.

In other news, CFO John Christopher Shea sold 4,750 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $52.00, for a total transaction of $247,000.00. Following the completion of the transaction, the chief financial officer now owns 7,157 shares of the company’s stock, valued at $372,164. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Briggs sold 2,500 shares of Healthcare Services Group stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $47.52, for a total transaction of $118,800.00. Following the sale, the director now owns 22,017 shares in the company, valued at $1,046,247.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,235 shares of company stock valued at $2,494,065. Corporate insiders own 4.30% of the company’s stock.

Healthcare Services Group Company Profile

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

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