First Trust Advisors LP grew its stake in Chemed Co. (NYSE:CHE) by 233.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,853 shares of the company’s stock after buying an additional 7,596 shares during the period. First Trust Advisors LP owned approximately 0.07% of Chemed worth $2,637,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in CHE. JPMorgan Chase & Co. lifted its position in shares of Chemed by 111.5% in the third quarter. JPMorgan Chase & Co. now owns 182,551 shares of the company’s stock worth $36,125,000 after buying an additional 96,237 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Chemed during the 4th quarter worth about $9,296,000. Wells Fargo & Company MN lifted its position in shares of Chemed by 25.4% during the 3rd quarter. Wells Fargo & Company MN now owns 85,308 shares of the company’s stock worth $17,238,000 after purchasing an additional 17,304 shares during the last quarter. Boston Advisors LLC lifted its position in shares of Chemed by 180.6% during the 4th quarter. Boston Advisors LLC now owns 21,989 shares of the company’s stock worth $5,344,000 after purchasing an additional 14,153 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Chemed by 9.7% during the third quarter. Russell Investments Group Ltd. now owns 159,782 shares of the company’s stock valued at $32,285,000 after acquiring an additional 14,071 shares during the period. 94.78% of the stock is owned by institutional investors.
Shares of CHE traded down $6.52 on Friday, hitting $274.87. The company’s stock had a trading volume of 52,820 shares, compared to its average volume of 124,664. The company has a market capitalization of $4,442.17, a P/E ratio of 51.28, a PEG ratio of 2.56 and a beta of 1.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.88. Chemed Co. has a fifty-two week low of $178.44 and a fifty-two week high of $285.79.
Chemed (NYSE:CHE) last announced its earnings results on Wednesday, February 14th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.27 by $0.05. The business had revenue of $428.35 million for the quarter, compared to the consensus estimate of $423.83 million. Chemed had a return on equity of 30.04% and a net margin of 5.89%. Chemed’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 EPS. sell-side analysts anticipate that Chemed Co. will post 10.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Monday, February 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Friday, February 23rd. Chemed’s payout ratio is currently 20.90%.
Chemed declared that its board has authorized a share buyback plan on Tuesday, March 6th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “hold” rating and issued a $258.00 price objective on shares of Chemed in a research note on Friday, February 16th. Oppenheimer upped their price objective on Chemed from $270.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, ValuEngine upgraded Chemed from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $261.33.
In other news, insider Kevin J. Mcnamara sold 6,000 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $258.00, for a total value of $1,548,000.00. Following the transaction, the insider now owns 140,049 shares of the company’s stock, valued at approximately $36,132,642. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Naomi C. Dallob sold 1,050 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $257.00, for a total value of $269,850.00. Following the completion of the transaction, the vice president now directly owns 6,649 shares in the company, valued at approximately $1,708,793. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.
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Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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