Hennion & Walsh Asset Management Inc. Grows Stake in Chemed Co. (NYSE:CHE)

Hennion & Walsh Asset Management Inc. boosted its position in shares of Chemed Co. (NYSE:CHE - Free Report) by 76.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,486 shares of the company's stock after buying an additional 646 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Chemed were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Chemed during the 4th quarter worth about $42,023,000. Charles Schwab Investment Management Inc. lifted its stake in Chemed by 10.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,182 shares of the company's stock worth $72,149,000 after purchasing an additional 13,394 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Chemed by 36.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,406 shares of the company's stock valued at $1,804,000 after buying an additional 914 shares during the period. Portfolio Design Labs LLC purchased a new position in shares of Chemed during the fourth quarter valued at approximately $324,000. Finally, Citadel Advisors LLC grew its stake in shares of Chemed by 197.4% during the fourth quarter. Citadel Advisors LLC now owns 77,143 shares of the company's stock valued at $40,870,000 after buying an additional 51,206 shares during the last quarter. Institutional investors own 95.85% of the company's stock.

Insider Transactions at Chemed

In related news, CEO Kevin J. Mcnamara sold 1,500 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $576.45, for a total transaction of $864,675.00. Following the sale, the chief executive officer now owns 101,197 shares of the company's stock, valued at $58,335,010.65. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 5,500 shares of company stock valued at $3,213,780. Company insiders own 3.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Chemed from $667.00 to $674.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen raised shares of Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

Chemed Trading Down 0.8%

Shares of Chemed stock traded down $4.23 on Wednesday, hitting $549.61. 76,319 shares of the company traded hands, compared to its average volume of 103,570. The company has a market cap of $8.04 billion, a PE ratio of 27.76, a PEG ratio of 2.15 and a beta of 0.54. The stock's 50 day moving average price is $573.19 and its 200-day moving average price is $565.93. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.04. The business had revenue of $646.94 million during the quarter, compared to analysts' expectations of $641.78 million. Chemed had a return on equity of 27.86% and a net margin of 12.69%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.20 EPS. As a group, research analysts anticipate that Chemed Co. will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 29th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Chemed's dividend payout ratio is currently 9.74%.

Chemed 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.