Quantbot Technologies LP Buys New Position in Chemed Corporation $CHE

Key Points

• Quantbot Technologies LP acquired 1,197 shares of Chemed Corporation, valued at approximately $737,000, during the first quarter, indicating interest from institutional investors in the stock.
• Chemed's recent quarterly earnings report showed an EPS of $4.27, missing the consensus estimate, while revenue was slightly up year-over-year at $618.8 million.
• The company announced an increase in its quarterly dividend from $0.50 to $0.60 per share, reflecting a strategy to return value to shareholders amid positive revenue growth.

Quantbot Technologies LP bought a new stake in Chemed Corporation (NYSE:CHE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,197 shares of the company's stock, valued at approximately $737,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aptus Capital Advisors LLC increased its position in shares of Chemed by 10.7% during the 1st quarter. Aptus Capital Advisors LLC now owns 45,046 shares of the company's stock worth $27,718,000 after purchasing an additional 4,351 shares during the last quarter. Northern Trust Corp increased its position in shares of Chemed by 3.4% during the 1st quarter. Northern Trust Corp now owns 215,523 shares of the company's stock worth $132,616,000 after purchasing an additional 6,988 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of Chemed by 7.4% during the 1st quarter. Cresset Asset Management LLC now owns 481 shares of the company's stock worth $296,000 after purchasing an additional 33 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Chemed by 5.0% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 4,745 shares of the company's stock worth $2,920,000 after purchasing an additional 226 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Chemed by 63.6% during the 1st quarter. American Century Companies Inc. now owns 6,508 shares of the company's stock worth $4,005,000 after purchasing an additional 2,531 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company's stock.

Insider Activity

In related news, Director George J. Walsh III purchased 200 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was bought at an average price of $417.10 per share, with a total value of $83,420.00. Following the completion of the purchase, the director owned 3,523 shares in the company, valued at approximately $1,469,443.30. This represents a 6.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $421.91, for a total value of $4,224,162.92. The disclosure for this sale can be found here. Corporate insiders own 3.29% of the company's stock.

Chemed Stock Up 1.6%

Shares of NYSE:CHE traded up $7.45 during trading on Friday, reaching $459.35. 61,664 shares of the company traded hands, compared to its average volume of 138,603. Chemed Corporation has a 52 week low of $408.42 and a 52 week high of $623.60. The firm has a market capitalization of $6.69 billion, a PE ratio of 23.62, a PEG ratio of 2.51 and a beta of 0.46. The company's 50 day moving average is $465.00 and its two-hundred day moving average is $538.08.

Chemed (NYSE:CHE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $4.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). The firm had revenue of $618.80 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $5.47 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. As a group, research analysts anticipate that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 11th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. Chemed's payout ratio is currently 12.34%.

Analysts Set New Price Targets

Several research firms have weighed in on CHE. Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Jefferies Financial Group started coverage on Chemed in a report on Friday, July 25th. They set a "hold" rating and a $500.00 target price on the stock. Bank of America decreased their target price on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Oppenheimer reduced their price target on Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada reduced their price target on Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $579.75.

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.