Prudential Financial Inc. Has $6.83 Million Holdings in Chemed Co. (CHE)
Prudential Financial Inc. lessened its stake in shares of Chemed Co. (NYSE:CHE) by 39.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,379 shares of the company’s stock after selling 13,670 shares during the quarter. Prudential Financial Inc. owned about 0.13% of Chemed worth $6,832,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in CHE. Bank of Montreal Can grew its stake in shares of Chemed by 43.3% in the 2nd quarter. Bank of Montreal Can now owns 7,064 shares of the company’s stock worth $2,273,000 after acquiring an additional 2,136 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Chemed by 10.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,689 shares of the company’s stock worth $865,000 after acquiring an additional 264 shares in the last quarter. New Mexico Educational Retirement Board bought a new stake in shares of Chemed in the 2nd quarter worth $1,191,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Chemed in the 2nd quarter worth $644,000. Finally, First Trust Advisors LP grew its stake in shares of Chemed by 22.7% in the 2nd quarter. First Trust Advisors LP now owns 17,348 shares of the company’s stock worth $5,583,000 after acquiring an additional 3,213 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.
Several analysts have recently issued reports on the stock. Zacks Investment Research reiterated a “buy” rating and issued a $342.00 target price on shares of Chemed in a research note on Monday, November 12th. Bank of America assumed coverage on shares of Chemed in a research note on Friday, October 12th. They issued a “buy” rating and a $390.00 target price for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Chemed currently has a consensus rating of “Buy” and a consensus price target of $332.00.
Chemed (NYSE:CHE) last posted its earnings results on Monday, October 29th. The company reported $3.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.80 by $0.27. Chemed had a net margin of 11.73% and a return on equity of 35.13%. The firm had revenue of $444.15 million during the quarter, compared to analyst estimates of $445.16 million. During the same quarter in the prior year, the business posted $2.15 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. Analysts forecast that Chemed Co. will post 11.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 12th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $1.20 annualized dividend and a dividend yield of 0.40%. Chemed’s payout ratio is 22.39%.
In related news, Director Donald E. Saunders sold 300 shares of the stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $308.74, for a total transaction of $92,622.00. Following the completion of the transaction, the director now owns 8,251 shares in the company, valued at $2,547,413.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Spencer S. Lee sold 669 shares of the stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $314.76, for a total transaction of $210,574.44. Following the transaction, the insider now owns 30,589 shares of the company’s stock, valued at approximately $9,628,193.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,953 shares of company stock valued at $7,678,463. 4.90% of the stock is owned by company insiders.
Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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