LPL Financial LLC Has $6.48 Million Stock Position in Chemed Corporation (NYSE:CHE)

Key Points

• LPL Financial LLC increased its stake in Chemed Corporation by 12.7%, acquiring an additional 1,185 shares during the first quarter, bringing its total ownership to 10,527 shares valued at $6,477,000.
• Chemed recently increased its quarterly dividend from $0.50 to $0.60 per share, marking a positive shift for its investors.
• Following a recent earnings report, Chemed's stock is facing mixed analyst ratings, with Wall Street Zen downgrading its rating from "buy" to "hold."

LPL Financial LLC increased its holdings in Chemed Corporation (NYSE:CHE - Free Report) by 12.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,527 shares of the company's stock after buying an additional 1,185 shares during the period. LPL Financial LLC owned 0.07% of Chemed worth $6,477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHE. Alpine Bank Wealth Management bought a new position in Chemed in the first quarter valued at approximately $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, Farther Finance Advisors LLC grew its stake in shares of Chemed by 23.0% during the first quarter. Farther Finance Advisors LLC now owns 150 shares of the company's stock worth $93,000 after buying an additional 28 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chemed

In related news, EVP Spencer S. Lee sold 1,500 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $577.99, for a total value of $866,985.00. Following the transaction, the executive vice president owned 14,627 shares in the company, valued at $8,454,259.73. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $421.91, for a total transaction of $4,224,162.92. The disclosure for this sale can be found here. 3.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CHE shares. Royal Bank Of Canada decreased their target price on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. 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 started coverage on shares of Chemed in a research note 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 shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Finally, Oppenheimer decreased their target price on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $579.75.

Chemed Stock Performance

Shares of NYSE:CHE traded up $7.69 during mid-day trading on Wednesday, reaching $450.83. 158,732 shares of the company's stock were exchanged, compared to its average volume of 187,739. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 2.44 and a beta of 0.46. The business's fifty day moving average price is $487.07 and its 200-day moving average price is $546.23. Chemed Corporation has a twelve month low of $408.42 and a twelve month high of $623.60.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). The business had revenue of $618.80 million for 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 quarter last year, the firm posted $5.47 EPS. Analysts predict that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 11th will be issued a $0.60 dividend. The ex-dividend date 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 yield of 0.5%. Chemed's dividend payout ratio (DPR) is presently 12.34%.

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.