Burney Co. Lowers Position in Chemed Co. (NYSE:CHE)

Burney Co. lessened its stake in shares of Chemed Co. (NYSE:CHE) by 19.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 333 shares of the company’s stock after selling 80 shares during the period. Burney Co.’s holdings in Chemed were worth $214,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CHE. Wealth Alliance grew its stake in shares of Chemed by 3.0% during the 4th quarter. Wealth Alliance now owns 578 shares of the company’s stock valued at $338,000 after acquiring an additional 17 shares during the period. EntryPoint Capital LLC boosted its position in shares of Chemed by 14.0% in the first quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock worth $94,000 after purchasing an additional 18 shares during the period. Signaturefd LLC increased its stake in shares of Chemed by 5.8% in the fourth quarter. Signaturefd LLC now owns 385 shares of the company’s stock worth $225,000 after purchasing an additional 21 shares in the last quarter. Covestor Ltd lifted its stake in shares of Chemed by 10.6% during the 1st quarter. Covestor Ltd now owns 219 shares of the company’s stock valued at $141,000 after buying an additional 21 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in Chemed by 3.4% in the 1st quarter. Ballentine Partners LLC now owns 660 shares of the company’s stock worth $424,000 after buying an additional 22 shares during the period. Institutional investors own 95.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHE. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Royal Bank of Canada decreased their target price on Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st.

Insider Activity

In related news, CEO Kevin J. Mcnamara sold 4,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $567.54, for a total value of $2,270,160.00. Following the sale, the chief executive officer now owns 108,549 shares in the company, valued at $61,605,899.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Kevin J. Mcnamara sold 4,000 shares of Chemed stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $567.54, for a total value of $2,270,160.00. Following the completion of the transaction, the chief executive officer now owns 108,549 shares in the company, valued at $61,605,899.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicholas Michael Westfall sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $561.58, for a total value of $1,123,160.00. Following the sale, the executive vice president now directly owns 5,990 shares in the company, valued at $3,363,864.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,784 shares of company stock worth $4,363,213. 3.32% of the stock is currently owned by insiders.

Chemed Stock Performance

CHE opened at $590.72 on Friday. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 2.40 and a beta of 0.43. The company has a fifty day moving average of $544.78 and a 200 day moving average of $582.87. Chemed Co. has a fifty-two week low of $492.84 and a fifty-two week high of $654.62.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.59 by ($0.12). The firm had revenue of $595.88 million for the quarter, compared to analysts’ expectations of $599.20 million. Chemed had a net margin of 12.88% and a return on equity of 29.21%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.71 EPS. On average, equities research analysts forecast that Chemed Co. will post 21.77 earnings per share for the current year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.27%. Chemed’s dividend payout ratio (DPR) is 8.61%.

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.