Chemed Corporation $CHE Stock Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its stake in Chemed Corporation (NYSE:CHE) by 23.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,971 shares of the company’s stock after acquiring an additional 2,842 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Chemed were worth $7,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Chemed during the second quarter worth approximately $1,726,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Chemed in the second quarter valued at approximately $4,413,000. Lone Peak Global Investors LLC lifted its position in shares of Chemed by 38.1% in the second quarter. Lone Peak Global Investors LLC now owns 37,099 shares of the company’s stock valued at $17,279,000 after buying an additional 10,226 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Chemed by 41.7% during the 2nd quarter. Hsbc Holdings PLC now owns 12,346 shares of the company’s stock worth $5,729,000 after acquiring an additional 3,632 shares during the period. Finally, Amundi boosted its stake in shares of Chemed by 51.5% during the 2nd quarter. Amundi now owns 53,856 shares of the company’s stock worth $25,083,000 after acquiring an additional 18,301 shares during the period. 95.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Spencer Lee sold 1,000 shares of Chemed stock in a transaction on Friday, August 21st. The stock was sold at an average price of $541.04, for a total transaction of $541,040.00. Following the completion of the sale, the executive vice president owned 13,912 shares of the company’s stock, valued at approximately $7,526,948.48. This trade represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin McNamara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $537.90, for a total transaction of $1,075,800.00. Following the completion of the sale, the chief executive officer directly owned 82,220 shares of the company’s stock, valued at approximately $44,226,138. The trade was a 2.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,920 shares of company stock worth $5,223,056. Insiders own 3.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CHE shares. UBS Group boosted their target price on Chemed from $650.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Wall Street Zen raised Chemed from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. Jefferies Financial Group raised shares of Chemed from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $520.00 to $620.00 in a research report on Wednesday, October 28th. Oppenheimer upped their price objective on shares of Chemed from $590.00 to $625.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. Finally, Bank of America reiterated a “neutral” rating on shares of Chemed in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Chemed has an average rating of “Hold” and an average price target of $603.00.

Chemed Trading Down 0.3%

Shares of NYSE:CHE opened at $549.21 on Friday. Chemed Corporation has a 12-month low of $365.20 and a 12-month high of $562.24. The stock has a market cap of $7.15 billion, a PE ratio of 24.03, a P/E/G ratio of 2.09 and a beta of 0.50. The business has a 50 day moving average of $516.47 and a 200-day moving average of $467.03. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.27.

Chemed (NYSE:CHE) last posted its earnings results on Tuesday, October 27th. The company reported $6.75 EPS for the quarter, beating the consensus estimate of $6.44 by $0.31. The company had revenue of $690.94 million for the quarter, compared to the consensus estimate of $685.04 million. Chemed had a return on equity of 35.18% and a net margin of 10.61%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.27 earnings per share. As a group, equities research analysts forecast that Chemed Corporation will post 24.05 earnings per share for the current year.

Chemed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Monday, November 16th will be paid a $0.70 dividend. The ex-dividend date is Monday, November 16th. This represents a $2.80 annualized dividend and a yield of 0.5%. Chemed’s payout ratio is 13.40%.

About Chemed

Chemed Corporation is a U.S.-based company operating through two principal businesses: VITAS Healthcare, which provides hospice and palliative care, and Roto-Rooter, which offers plumbing, drain-cleaning and water-restoration services. VITAS serves patients with serious illnesses through home-based care and services in hospice facilities and other care settings. Roto-Rooter serves residential and commercial customers with plumbing and drain services, as well as cleanup and restoration following water damage.