Ontario Teachers Pension Plan Board Raises Stake in Chemed Corporation (NYSE:CHE)

Ontario Teachers Pension Plan Board boosted its stake in Chemed Corporation (NYSE:CHE) by 258.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,992 shares of the company’s stock after purchasing an additional 4,320 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Chemed were worth $3,687,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alpine Bank Wealth Management bought a new position in shares of Chemed in the first quarter valued at approximately $29,000. HM Payson & Co. bought a new position in Chemed in the 1st quarter valued at $30,000. Whipplewood Advisors LLC grew its position in shares of Chemed by 54.5% during the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 18 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Chemed by 600.0% in the first quarter. Versant Capital Management Inc now owns 98 shares of the company’s stock worth $60,000 after purchasing an additional 84 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Chemed by 23.0% in the first quarter. Farther Finance Advisors LLC now owns 150 shares of the company’s stock worth $93,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Price Performance

Shares of NYSE CHE opened at $428.47 on Thursday. The stock has a market capitalization of $6.24 billion, a P/E ratio of 22.03, a PEG ratio of 2.36 and a beta of 0.46. Chemed Corporation has a one year low of $408.42 and a one year high of $623.60. The firm’s 50 day simple moving average is $500.05 and its two-hundred day simple moving average is $550.13.

Chemed (NYSE:CHE) last issued its earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing analysts’ consensus estimates of $6.02 by ($1.75). The business had revenue of $618.80 million during the quarter, compared to analysts’ expectations of $650.60 million. Chemed had a return on equity of 25.83% and a net margin of 11.56%. Chemed’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.47 EPS. As a group, equities analysts expect that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. This is a positive change from Chemed’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, August 11th. Chemed’s payout ratio is currently 10.28%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank of America reduced their target price on Chemed from $708.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, June 30th. Royal Bank Of Canada decreased their price objective on shares of Chemed from $640.00 to $589.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Oppenheimer dropped their target price on shares of Chemed from $650.00 to $580.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Wall Street Zen lowered shares of Chemed from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Finally, Jefferies Financial Group started coverage on shares of Chemed in a report on Friday, July 25th. They set a “hold” rating and a $500.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $579.75.

Insider Activity

In other 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 directly owned 14,627 shares of the company’s stock, valued at approximately $8,454,259.73. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George J. Walsh III purchased 200 shares of Chemed stock in a transaction that occurred on Monday, August 4th. The shares were bought at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the transaction, the director directly owned 3,523 shares of the company’s stock, valued at $1,469,443.30. This trade represents a 6.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.29% of the company’s stock.

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.