Chemed Co. (NYSE:CHE) Shares Purchased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp boosted its position in Chemed Co. (NYSE:CHE) by 1.3% in the 1st quarter, Holdings Channel reports. The firm owned 13,182 shares of the company’s stock after acquiring an additional 170 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Chemed were worth $8,462,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Chemed by 0.3% in the 3rd quarter. Wellington Management Group LLP now owns 386,237 shares of the company’s stock valued at $200,727,000 after purchasing an additional 1,044 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Chemed by 164.3% in the 4th quarter. TD Asset Management Inc now owns 205,777 shares of the company’s stock worth $120,328,000 after acquiring an additional 127,934 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Chemed by 121.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 203,096 shares of the company’s stock worth $118,760,000 after acquiring an additional 111,399 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Chemed by 19.7% in the 4th quarter. Victory Capital Management Inc. now owns 188,679 shares of the company’s stock worth $110,330,000 after acquiring an additional 31,036 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Chemed in the 4th quarter worth $92,359,000. 95.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHE has been the subject of a number of recent research reports. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Royal Bank of Canada cut their price objective on Chemed from $712.00 to $697.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st.

Insider Activity

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

Chemed Trading Up 1.4 %

Chemed stock traded up $7.51 during midday trading on Thursday, reaching $535.51. 117,757 shares of the stock traded hands, compared to its average volume of 82,635. The company has a 50-day simple moving average of $549.18 and a two-hundred day simple moving average of $586.04. Chemed Co. has a 12-month low of $492.84 and a 12-month high of $654.62. The firm has a market cap of $8.11 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 2.20 and a beta of 0.43.

Chemed (NYSE:CHE) last announced its earnings results on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a net margin of 12.36% and a return on equity of 30.52%. The firm had revenue of $589.23 million for the quarter, compared to analysts’ expectations of $587.18 million. Equities research analysts anticipate that Chemed Co. will post 21.54 earnings per share for the current year.

Chemed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Thursday, May 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Thursday, May 30th. Chemed’s dividend payout ratio (DPR) is 8.61%.

Chemed Company Profile

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.