Hsbc Holdings PLC grew its stake in Chemed Corporation (NYSE:CHE – Free Report) by 77.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,714 shares of the company’s stock after buying an additional 3,816 shares during the period. Hsbc Holdings PLC’s holdings in Chemed were worth $3,307,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in CHE. Y Intercept Hong Kong Ltd grew its stake in Chemed by 28.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 6,966 shares of the company’s stock valued at $2,631,000 after acquiring an additional 1,540 shares in the last quarter. Keybank National Association OH lifted its stake in Chemed by 8.2% in the 1st quarter. Keybank National Association OH now owns 1,371 shares of the company’s stock worth $518,000 after purchasing an additional 104 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Chemed by 10.3% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 1,590 shares of the company’s stock valued at $601,000 after purchasing an additional 148 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Chemed by 20.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 62,264 shares of the company’s stock valued at $23,520,000 after purchasing an additional 10,498 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Chemed by 5.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,305 shares of the company’s stock valued at $871,000 after purchasing an additional 110 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.
Chemed Stock Performance
Chemed stock opened at $510.28 on Friday. The company’s 50-day moving average price is $458.59 and its 200-day moving average price is $433.65. Chemed Corporation has a twelve month low of $365.20 and a twelve month high of $517.74. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.77 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.85 and a beta of 0.52.
Chemed Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, May 28th. Chemed’s payout ratio is presently 13.08%.
Wall Street Analyst Weigh In
CHE has been the topic of several research reports. Royal Bank Of Canada lifted their target price on Chemed from $422.00 to $436.00 and gave the stock a “sector perform” rating in a report on Monday, April 27th. Wall Street Zen lowered Chemed from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Zacks Research upgraded Chemed from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Bank of America lifted their price objective on Chemed from $450.00 to $510.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings raised Chemed from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Chemed has a consensus rating of “Hold” and a consensus target price of $480.25.
Read Our Latest Analysis on CHE
Insider Buying and Selling
In other Chemed news, Director Andrea R. Lindell sold 1,347 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $447.33, for a total transaction of $602,553.51. Following the sale, the director directly owned 4,578 shares in the company, valued at $2,047,876.74. This represents a 22.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $421.13, for a total value of $842,260.00. Following the completion of the sale, the chief executive officer directly owned 90,219 shares of the company’s stock, valued at $37,993,927.47. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.33% of the company’s stock.
Chemed Profile
Chemed Corporation is a diversified provider of essential home services and healthcare solutions in the United States. Headquartered in Cincinnati, Ohio, the company operates through two principal business segments—Roto-Rooter and Vitas Healthcare. Since its founding in 1974, Chemed has built a reputation for reliability and expertise, serving both residential and commercial customers across a broad range of markets.
The Roto-Rooter segment offers a comprehensive suite of plumbing, drain cleaning and water restoration services.
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