PineBridge Investments L.P. Has $283,000 Position in Chemed Corp. (CHE)
PineBridge Investments L.P. maintained its stake in shares of Chemed Corp. (NYSE:CHE) during the second quarter, Holdings Channel reports. The firm owned 2,076 shares of the company’s stock at the end of the second quarter. PineBridge Investments L.P.’s holdings in Chemed Corp. were worth $283,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of CHE. Vanguard Group Inc. raised its stake in shares of Chemed Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,576,155 shares of the company’s stock worth $214,846,000 after buying an additional 46,726 shares during the period. AJO LP increased its stake in Chemed Corp. by 456.7% in the second quarter. AJO LP now owns 8,891 shares of the company’s stock worth $1,212,000 after buying an additional 7,294 shares in the last quarter. Systematic Financial Management LP increased its stake in Chemed Corp. by 12.4% in the second quarter. Systematic Financial Management LP now owns 13,590 shares of the company’s stock worth $1,852,000 after buying an additional 1,500 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Chemed Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,362 shares of the company’s stock worth $322,000 after buying an additional 288 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Chemed Corp. by 26.3% in the second quarter. Ameriprise Financial Inc. now owns 128,005 shares of the company’s stock worth $17,447,000 after buying an additional 26,694 shares in the last quarter. Institutional investors and hedge funds own 98.62% of the company’s stock.
Chemed Corp. (NYSE:CHE) opened at 139.79 on Thursday. The stock has a market capitalization of $2.26 billion, a PE ratio of 22.17 and a beta of 1.14. Chemed Corp. has a 12 month low of $124.77 and a 12 month high of $160.12. The stock has a 50 day moving average price of $137.29 and a 200 day moving average price of $135.36.
Chemed Corp. (NYSE:CHE) last posted its quarterly earnings results on Monday, July 25th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.08. The company had revenue of $290 million for the quarter, compared to the consensus estimate of $393.50 million. Chemed Corp. had a return on equity of 24.12% and a net margin of 6.93%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 EPS. On average, equities research analysts forecast that Chemed Corp. will post $7.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Monday, August 15th were paid a $0.26 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.74%. This is an increase from Chemed Corp.’s previous quarterly dividend of $0.24. Chemed Corp.’s dividend payout ratio is presently 16.51%.
A number of research firms have issued reports on CHE. JMP Securities reissued a “hold” rating on shares of Chemed Corp. in a research report on Sunday, September 4th. Royal Bank Of Canada raised their target price on Chemed Corp. from $136.00 to $162.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 27th. Zacks Investment Research raised Chemed Corp. from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research report on Thursday, July 28th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $162.00 target price (up from $136.00) on shares of Chemed Corp. in a research report on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $159.00.
In related news, insider Kevin J. Mcnamara sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $144.87, for a total value of $2,607,660.00. Following the transaction, the insider now directly owns 163,266 shares of the company’s stock, valued at approximately $23,652,345.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald E. Saunders sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $144.32, for a total value of $72,160.00. Following the completion of the transaction, the director now directly owns 10,786 shares in the company, valued at $1,556,635.52. The disclosure for this sale can be found here. 5.32% of the stock is owned by corporate insiders.
About Chemed Corp.
Chemed Corporation operates and divests subsidiaries engaged in diverse business activities. The Company operates its business in two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS segment provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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