California State Teachers Retirement System grew its holdings in Chemed Corporation (NYSE:CHE – Free Report) by 45,134.8% during the second quarter, Holdings Channel.com reports. The firm owned 7,613,918 shares of the company’s stock after acquiring an additional 7,597,086 shares during the quarter. California State Teachers Retirement System owned 0.58% of Chemed worth $3,546,106,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in CHE. Monetary Solutions Ltd acquired a new position in Chemed during the fourth quarter worth $25,000. Los Angeles Capital Management LLC acquired a new stake in Chemed in the 4th quarter valued at $26,000. BOK Financial Private Wealth Inc. acquired a new stake in Chemed in the 4th quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Chemed during the 2nd quarter worth about $34,000. Finally, Versant Capital Management Inc lifted its position in Chemed by 7,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 76 shares of the company’s stock worth $35,000 after buying an additional 75 shares in the last quarter. Institutional investors own 95.85% of the company’s stock.
Insider Buying and Selling at Chemed
In other Chemed news, EVP Spencer Lee sold 1,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $541.04, for a total transaction of $541,040.00. Following the transaction, the executive vice president owned 13,912 shares in the company, valued at $7,526,948.48. This represents a 6.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin McNamara sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $541.16, for a total transaction of $1,082,320.00. Following the transaction, the chief executive officer directly owned 70,418 shares in the company, valued at $38,107,404.88. This represents a 2.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,190 shares of company stock valued at $2,803,460 in the last quarter. Company insiders own 3.33% of the company’s stock.
Chemed Price Performance
Chemed (NYSE:CHE – Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.60 by $0.46. Chemed had a net margin of 10.60% and a return on equity of 31.77%. The company had revenue of $673.25 million during the quarter, compared to analysts’ expectations of $665.04 million. During the same quarter in the previous year, the business posted $4.27 earnings per share. Chemed’s quarterly revenue was up 8.8% on a year-over-year basis. Chemed has set its FY 2026 guidance at 25.000-25.750 EPS. Equities research analysts predict that Chemed Corporation will post 23.18 earnings per share for the current year.
Chemed Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Monday, August 17th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $2.80 dividend on an annualized basis and a yield of 0.5%. This is an increase from Chemed’s previous quarterly dividend of $0.60. Chemed’s payout ratio is presently 14.06%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on CHE shares. Bank of America restated a “neutral” rating on shares of Chemed in a report on Wednesday, July 29th. Wall Street Zen raised Chemed from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Oppenheimer upped their price objective on Chemed from $500.00 to $590.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Royal Bank Of Canada raised their price objective on Chemed from $436.00 to $548.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded Chemed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Chemed has an average rating of “Hold” and a consensus price target of $530.75.
Check Out Our Latest Analysis on CHE
About Chemed
Chemed Corporation is a diversified holding company that operates businesses in the healthcare and residential and commercial services industries. Its primary operations are conducted through VITAS Healthcare and Roto-Rooter.
VITAS Healthcare provides hospice and palliative care for patients with advanced illnesses. Its services are delivered in patients’ homes, hospice residences, nursing facilities, hospitals and other care settings, primarily throughout the United States. Care is provided by interdisciplinary teams that may include physicians, nurses, hospice aides, social workers and chaplains.
Roto-Rooter provides plumbing and drain-cleaning services, as well as water cleanup and related services for residential and commercial customers.
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