Chemed Corporation $CHE Shares Purchased by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board significantly increased its holdings in Chemed Corporation by 3,300.0% during the 1st quarter, bringing their total to 3,400 shares valued at approximately $2.09 million.
• Director George J. Walsh III purchased 200 shares at an average price of $417.10, while EVP Nicholas Michael Westfall sold 10,012 shares at an average price of $421.91 on the same day.
• Chemed announced an increase in its quarterly dividend from $0.50 to $0.60 per share, reflecting its commitment to returning value to shareholders.

Canada Pension Plan Investment Board increased its holdings in shares of Chemed Corporation (NYSE:CHE - Free Report) by 3,300.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,400 shares of the company's stock after buying an additional 3,300 shares during the period. Canada Pension Plan Investment Board's holdings in Chemed were worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management purchased a new stake in shares of Chemed during the first quarter worth approximately $29,000. HM Payson & Co. acquired a new stake in Chemed during the 1st quarter worth $30,000. SVB Wealth LLC purchased a new stake in shares of Chemed during the first quarter worth $30,000. Whipplewood Advisors LLC grew its holdings 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 in the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Chemed in the first quarter valued at about $32,000. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Stock Down 2.5%

Shares of Chemed stock traded down $11.54 during mid-day trading on Wednesday, hitting $451.21. The stock had a trading volume of 237,168 shares, compared to its average volume of 162,584. The firm has a 50-day moving average of $452.65 and a two-hundred day moving average of $532.39. The firm has a market cap of $6.57 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 2.55 and a beta of 0.46. Chemed Corporation has a 12-month low of $408.42 and a 12-month high of $623.60.

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

Chemed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 11th. This is an increase from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. Chemed's dividend payout ratio is currently 12.34%.

Analysts Set New Price Targets

CHE has been the topic of a number of recent research reports. Oppenheimer lowered their price target on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Jefferies Financial Group raised shares of Chemed from a "hold" rating to a "buy" rating and raised their target price for the stock from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Royal Bank Of Canada cut their price target on Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Finally, Bank of America reduced their price objective on Chemed from $610.00 to $595.00 and set a "buy" rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Chemed has an average rating of "Buy" and a consensus price target of $578.50.

Insider Buying and Selling at Chemed

In related news, EVP Nicholas Michael Westfall sold 10,012 shares of Chemed stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $421.91, for a total value of $4,224,162.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick P. Grace sold 150 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total value of $69,508.50. Following the completion of the sale, the director directly owned 3,397 shares in the company, valued at approximately $1,574,135.83. The trade was a 4.23% decrease in their position. The disclosure for this sale can be found here. 3.29% of the stock is currently owned by corporate insiders.

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.