Quantbot Technologies LP Raises Stock Holdings in Chemed Co. (NYSE:CHE)

Quantbot Technologies LP lifted its holdings in Chemed Co. (NYSE:CHE) by 167.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,999 shares of the company’s stock after buying an additional 1,877 shares during the quarter. Quantbot Technologies LP’s holdings in Chemed were worth $1,925,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CHE. Wellington Management Group LLP grew its stake in Chemed by 0.3% in the third quarter. Wellington Management Group LLP now owns 386,237 shares of the company’s stock worth $200,727,000 after purchasing an additional 1,044 shares in the last quarter. TD Asset Management Inc grew its stake in Chemed by 164.3% in the fourth quarter. TD Asset Management Inc now owns 205,777 shares of the company’s stock worth $120,328,000 after purchasing an additional 127,934 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Chemed by 121.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 203,096 shares of the company’s stock worth $118,760,000 after purchasing an additional 111,399 shares in the last quarter. Victory Capital Management Inc. grew its stake in Chemed by 19.7% in the fourth quarter. Victory Capital Management Inc. now owns 188,679 shares of the company’s stock worth $110,330,000 after purchasing an additional 31,036 shares in the last quarter. Finally, Norges Bank bought a new position in Chemed in the fourth quarter worth approximately $92,359,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHE. Royal Bank of Canada dropped their price objective on Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th.

Insider Transactions at Chemed

In related news, CEO Kevin J. Mcnamara sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $567.54, for a total value of $2,270,160.00. Following the completion of the transaction, the chief executive officer now owns 108,549 shares in the company, valued at approximately $61,605,899.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Kevin J. Mcnamara sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $544.17, for a total value of $816,255.00. Following the completion of the transaction, the chief executive officer now owns 107,049 shares in the company, valued at approximately $58,252,854.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Mcnamara sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $567.54, for a total value of $2,270,160.00. Following the completion of the transaction, the chief executive officer now owns 108,549 shares of the company’s stock, valued at approximately $61,605,899.46. The disclosure for this sale can be found here. Insiders sold 5,784 shares of company stock valued at $3,240,053 in the last quarter. 3.32% of the stock is currently owned by corporate insiders.

Chemed Price Performance

NYSE CHE traded up $2.36 during midday trading on Friday, hitting $537.87. 112,982 shares of the company traded hands, compared to its average volume of 82,863. The company has a market cap of $8.14 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 2.17 and a beta of 0.43. Chemed Co. has a 52 week low of $492.84 and a 52 week high of $654.62. The company’s 50-day simple moving average is $548.70 and its 200-day simple moving average is $585.66.

Chemed (NYSE:CHE) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). The business had revenue of $589.23 million during the quarter, compared to analyst estimates of $587.18 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. On average, research analysts predict that Chemed Co. will post 21.54 earnings per share for the current year.

Chemed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Thursday, May 30th were given a $0.40 dividend. The ex-dividend date was Thursday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.30%. Chemed’s payout ratio is 8.61%.

About Chemed

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 primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.