United Services Automobile Association Invests $601,000 in Chemed Corporation $CHE

Key Points

• United Services Automobile Association acquired a new stake in Chemed Corporation during the first quarter, buying 993 shares valued at approximately $601,000.
• Chemed recently declared an increased quarterly dividend of $0.60 per share, up from the previous $0.50, reflecting a 0.5% dividend yield.
• Despite a growth in year-over-year revenue, Chemed reported an EPS of $4.27 for the last quarter, falling short of analysts' estimates by $1.75.

United Services Automobile Association bought a new position in shares of Chemed Corporation (NYSE:CHE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 993 shares of the company's stock, valued at approximately $601,000.

A number of other institutional investors have also made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Chemed by 2.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 597,175 shares of the company's stock worth $367,454,000 after acquiring an additional 15,041 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Chemed by 3.9% during the 1st quarter. Neuberger Berman Group LLC now owns 521,212 shares of the company's stock worth $320,712,000 after acquiring an additional 19,650 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Chemed by 1.7% in the 1st quarter. Boston Trust Walden Corp now owns 246,351 shares of the company's stock valued at $151,585,000 after buying an additional 4,179 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Chemed by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 218,675 shares of the company's stock valued at $134,547,000 after buying an additional 19,421 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Chemed by 3.4% in the 1st quarter. Northern Trust Corp now owns 215,523 shares of the company's stock valued at $132,616,000 after buying an additional 6,988 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chemed

In other news, Director George J. Walsh III bought 200 shares of the company's stock in a transaction on Monday, August 4th. The stock was purchased at an average cost of $417.10 per share, for a total transaction of $83,420.00. Following the completion of the transaction, the director owned 3,523 shares of the company's stock, valued at $1,469,443.30. This trade represents a 6.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $421.91, for a total value of $4,224,162.92. The disclosure for this sale can be found here. Corporate insiders own 3.29% of the company's stock.

Chemed Stock Down 0.7%

Chemed stock traded down $3.25 during trading hours on Monday, hitting $443.15. The stock had a trading volume of 39,520 shares, compared to its average volume of 141,570. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 2.60 and a beta of 0.46. Chemed Corporation has a one year low of $408.42 and a one year high of $623.60. The business's 50 day simple moving average is $451.83 and its 200-day simple moving average is $530.54.

Chemed (NYSE:CHE - Get Free Report) last posted its 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 during the quarter, compared to the consensus estimate of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. Chemed's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.47 earnings per share. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Research analysts anticipate 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 was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were given a $0.60 dividend. This is a boost from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Chemed's dividend payout ratio is 12.34%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CHE shares. Bank of America decreased their price objective on Chemed from $610.00 to $595.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Jefferies Financial Group raised Chemed from a "hold" rating to a "buy" rating and upped their price objective for the company from $490.00 to $550.00 in a report on Tuesday, September 2nd. Oppenheimer decreased their price objective on Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada decreased their price objective on Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Finally, Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $578.50.

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.