Quest Partners LLC Lowers Stock Holdings in Chemed Co. (NYSE:CHE)

Quest Partners LLC decreased its position in shares of Chemed Co. (NYSE:CHE) by 1.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,963 shares of the company’s stock after selling 27 shares during the quarter. Quest Partners LLC’s holdings in Chemed were worth $1,180,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CHE. Thrivent Financial for Lutherans lifted its stake in shares of Chemed by 300.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 116,572 shares of the company’s stock valued at $63,249,000 after buying an additional 87,449 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Chemed during the 3rd quarter valued at $437,150,000. Impax Asset Management Group plc lifted its stake in shares of Chemed by 19.5% during the 2nd quarter. Impax Asset Management Group plc now owns 317,943 shares of the company’s stock valued at $172,510,000 after buying an additional 51,974 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in Chemed by 22.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 223,134 shares of the company’s stock valued at $121,068,000 after acquiring an additional 40,358 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Chemed by 34.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 154,579 shares of the company’s stock valued at $98,516,000 after acquiring an additional 39,633 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Stock Performance

Shares of NYSE CHE opened at $547.46 on Wednesday. The company has a market cap of $8.24 billion, a P/E ratio of 27.66, a P/E/G ratio of 2.37 and a beta of 0.46. The firm’s fifty day moving average is $579.53 and its two-hundred day moving average is $565.25. Chemed Co. has a 52-week low of $523.33 and a 52-week high of $654.62.

Chemed (NYSE:CHE) last announced its earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.76 by ($0.12). The business had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.32 earnings per share. As a group, analysts forecast that Chemed Co. will post 21.43 EPS for the current fiscal year.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Monday, November 18th. Chemed’s dividend payout ratio is 10.11%.

Insider Activity

In related news, Director George J. Walsh III sold 400 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $597.47, for a total value of $238,988.00. Following the sale, the director now directly owns 3,046 shares of the company’s stock, valued at $1,819,893.62. This represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $569.35, for a total transaction of $975,296.55. Following the completion of the sale, the executive vice president now directly owns 6,109 shares in the company, valued at $3,478,159.15. This trade represents a 21.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,113 shares of company stock worth $2,411,905. 3.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reduced their price target on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th.

Chemed Company Profile

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.