Impax Asset Management Group plc Reduces Holdings in Chemed Corporation (NYSE:CHE)

Impax Asset Management Group plc lowered its position in Chemed Corporation (NYSE:CHE - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 301,580 shares of the company's stock after selling 30,877 shares during the period. Chemed accounts for about 1.1% of Impax Asset Management Group plc's holdings, making the stock its 28th biggest position. Impax Asset Management Group plc owned approximately 2.06% of Chemed worth $185,568,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Chemed during the fourth quarter valued at approximately $42,023,000. Bessemer Group Inc. grew its position in shares of Chemed by 14.2% in the first quarter. Bessemer Group Inc. now owns 950 shares of the company's stock valued at $585,000 after purchasing an additional 118 shares in the last quarter. Park Place Capital Corp grew its position in shares of Chemed by 71.2% in the first quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock valued at $2,198,000 after purchasing an additional 1,486 shares in the last quarter. Mather Group LLC. grew its position in shares of Chemed by 53.3% in the first quarter. Mather Group LLC. now owns 161 shares of the company's stock valued at $99,000 after purchasing an additional 56 shares in the last quarter. Finally, Synergy Asset Management LLC boosted its stake in Chemed by 108.4% during the first quarter. Synergy Asset Management LLC now owns 3,049 shares of the company's stock valued at $1,876,000 after buying an additional 1,586 shares during the period. Institutional investors own 95.85% of the company's stock.

Chemed Stock Up 1.2%

Shares of NYSE:CHE traded up $5.62 during trading on Tuesday, hitting $466.32. The stock had a trading volume of 200,175 shares, compared to its average volume of 111,676. Chemed Corporation has a 12 month low of $457.44 and a 12 month high of $623.61. The company has a market capitalization of $6.82 billion, a PE ratio of 22.71, a PEG ratio of 2.22 and a beta of 0.50. The firm's fifty day moving average is $551.27 and its 200 day moving average is $562.07.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 earnings per share for the quarter, beating analysts' consensus estimates of $5.59 by $0.04. The company had revenue of $646.94 million during the quarter, compared to analyst estimates of $641.78 million. Chemed had a return on equity of 27.58% and a net margin of 12.40%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $5.20 EPS. Equities research analysts expect that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Thursday, May 29th. Chemed's dividend payout ratio (DPR) is 9.74%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada reissued an "outperform" rating and issued a $640.00 target price (down previously from $674.00) on shares of Chemed in a research note on Monday, June 30th. Finally, Bank of America lowered their price target on Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, June 30th.

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 transaction of $866,985.00. Following the sale, the executive vice president owned 14,627 shares of the company's stock, valued at $8,454,259.73. This trade represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $576.45, for a total transaction of $864,675.00. Following the sale, the chief executive officer directly owned 101,197 shares in the company, valued at approximately $58,335,010.65. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,500 shares of company stock worth $2,598,450 over the last three months. 3.29% of the stock is currently owned by 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.