Nuveen LLC Buys Shares of 49,611 Chemed Corporation $CHE

Key Points

• Nuveen LLC has acquired 49,611 shares of Chemed Corporation, valued at approximately $30.5 million, representing about 0.34% ownership of the company as of their latest filing.
• Chemed's stock price recently opened at $445, with analysts giving it a consensus rating of "Moderate Buy" and an average target price of $579.75.
• The company has announced an increase in its quarterly dividend from $0.50 to $0.60 per share, reflecting a positive change in its dividend policy.

Nuveen LLC bought a new position in shares of Chemed Corporation (NYSE:CHE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 49,611 shares of the company's stock, valued at approximately $30,527,000. Nuveen LLC owned about 0.34% of Chemed as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Chemed during the first quarter worth $29,000. HM Payson & Co. bought a new stake in shares of Chemed during the first quarter worth $30,000. Whipplewood Advisors LLC grew its stake in shares of Chemed by 54.5% during the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after buying an additional 18 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Chemed by 600.0% during the first quarter. Versant Capital Management Inc now owns 98 shares of the company's stock worth $60,000 after buying an additional 84 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Chemed during the first quarter worth $68,000. Institutional investors own 95.85% of the company's stock.

Insider Buying and Selling

In other news, EVP Nicholas Michael Westfall sold 10,012 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $421.91, for a total value of $4,224,162.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director George J. Walsh III acquired 200 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the purchase, the director owned 3,523 shares of the company's stock, valued at $1,469,443.30. The trade was a 6.02% increase in their position. The disclosure for this purchase can be found here. 3.29% of the stock is owned by insiders.

Chemed Stock Down 0.5%

CHE stock traded down $2.4850 during mid-day trading on Thursday, reaching $453.1150. 43,069 shares of the company traded hands, compared to its average volume of 137,515. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 2.50 and a beta of 0.46. Chemed Corporation has a fifty-two week low of $408.42 and a fifty-two week high of $623.60. The firm's 50 day moving average price is $476.51 and its 200 day moving average price is $542.28.

Chemed (NYSE:CHE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $4.27 earnings per share for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). Chemed had a return on equity of 25.83% and a net margin of 11.56%.The business had revenue of $618.80 million during the quarter, compared to analysts' expectations of $650.60 million. During the same quarter in the previous year, the firm earned $5.47 EPS. Chemed's quarterly revenue was up 3.8% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, analysts anticipate that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Increases Dividend

The firm also recently announced 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, August 11th. This is a boost from Chemed's previous quarterly dividend of $0.50. Chemed's dividend payout ratio (DPR) is presently 12.34%.

Analyst Upgrades and Downgrades

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

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.