First Trust Advisors LP boosted its position in Chemed Co. (NYSE:CHE) by 29.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,984 shares of the company’s stock after acquiring an additional 15,935 shares during the quarter. First Trust Advisors LP’s holdings in Chemed were worth $29,223,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Dorsey Wright & Associates acquired a new position in shares of Chemed during the third quarter worth approximately $4,476,000. California Public Employees Retirement System boosted its position in shares of Chemed by 38.6% during the third quarter. California Public Employees Retirement System now owns 39,486 shares of the company’s stock worth $16,488,000 after buying an additional 11,006 shares during the period. State of Tennessee Treasury Department boosted its position in shares of Chemed by 413.7% during the third quarter. State of Tennessee Treasury Department now owns 22,910 shares of the company’s stock worth $9,567,000 after buying an additional 18,450 shares during the period. W.E. Donoghue & Co. LLC boosted its position in shares of Chemed by 282.0% during the third quarter. W.E. Donoghue & Co. LLC now owns 7,040 shares of the company’s stock worth $2,940,000 after buying an additional 5,197 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Chemed by 9.1% during the third quarter. Janney Montgomery Scott LLC now owns 780 shares of the company’s stock worth $326,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 88.69% of the company’s stock.
CHE has been the subject of several analyst reports. Oppenheimer boosted their price objective on Chemed from $400.00 to $430.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Bank of America boosted their price objective on Chemed from $470.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their target price on Chemed to $405.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. ValuEngine raised Chemed from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, JMP Securities raised Chemed from a “market perform” rating to an “outperform” rating and set a $490.00 target price on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $427.00.
In other Chemed news, VP Michael D. Witzeman sold 4,349 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $432.50, for a total value of $1,880,942.50. Following the transaction, the vice president now owns 5,175 shares of the company’s stock, valued at $2,238,187.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Naomi C. Dallob sold 2,300 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $413.00, for a total value of $949,900.00. Following the completion of the transaction, the vice president now directly owns 8,486 shares in the company, valued at approximately $3,504,718. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,956 shares of company stock worth $11,446,181. 3.96% of the stock is owned by corporate insiders.
Shares of NYSE:CHE opened at $408.89 on Thursday. Chemed Co. has a 12 month low of $260.03 and a 12 month high of $441.79. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.78 and a beta of 1.10. The stock’s 50 day moving average price is $411.64 and its 200 day moving average price is $385.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.67 and a quick ratio of 0.64.
Chemed (NYSE:CHE) last announced its earnings results on Tuesday, October 29th. The company reported $3.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.31 by $0.15. Chemed had a return on equity of 35.06% and a net margin of 11.14%. The firm had revenue of $480.61 million for the quarter, compared to analysts’ expectations of $478.89 million. During the same quarter in the previous year, the company earned $3.07 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts expect that Chemed Co. will post 13.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.28 annualized dividend and a yield of 0.31%. Chemed’s payout ratio is 10.73%.
Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.
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