Hennion & Walsh Asset Management Inc. Increases Stock Holdings in Chemed Co. (NYSE:CHE)

Hennion & Walsh Asset Management Inc. raised its position in Chemed Co. (NYSE:CHE) by 76.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,486 shares of the company’s stock after buying an additional 646 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Chemed were worth $914,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC boosted its position in Chemed by 54.5% during the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 18 shares during the last quarter. CIBC Asset Management Inc grew its position in Chemed by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 457 shares of the company’s stock worth $242,000 after acquiring an additional 22 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in shares of Chemed by 64.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock worth $30,000 after purchasing an additional 22 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Chemed by 13.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 185 shares of the company’s stock valued at $98,000 after acquiring an additional 22 shares during the last quarter. Finally, Independent Advisor Alliance increased its holdings in Chemed by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 2,279 shares of the company’s stock valued at $1,207,000 after purchasing an additional 25 shares during the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Chemed Stock Performance

Shares of CHE stock opened at $561.84 on Friday. Chemed Co. has a 1 year low of $512.12 and a 1 year high of $623.61. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 2.15 and a beta of 0.54. The stock’s 50-day moving average is $575.83 and its two-hundred day moving average is $566.16.

Chemed (NYSE:CHE) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, beating the consensus estimate of $5.59 by $0.04. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The firm had revenue of $646.94 million during the quarter, compared to the consensus estimate of $641.78 million. During the same quarter in the prior year, the firm earned $5.20 EPS. Chemed’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts predict that Chemed Co. will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Thursday, May 29th. Chemed’s dividend payout ratio (DPR) is presently 9.74%.

Insider Transactions at Chemed

In related news, EVP Spencer S. Lee sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.99, for a total value of $866,985.00. Following the completion of the sale, the executive vice president now owns 14,627 shares in the company, valued at $8,454,259.73. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Mcnamara sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $615.33, for a total value of $615,330.00. Following the sale, the chief executive officer now directly owns 101,679 shares in the company, valued at $62,566,139.07. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,500 shares of company stock worth $3,213,780. Company insiders own 3.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CHE has been the subject of several research reports. Royal Bank of Canada lifted their target price on Chemed from $667.00 to $674.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Wall Street Zen raised Chemed from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

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.