Meritage Portfolio Management Boosts Stock Position in Chemed Co. (NYSE:CHE)

Meritage Portfolio Management raised its stake in shares of Chemed Co. (NYSE:CHE) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,321 shares of the company’s stock after buying an additional 1,218 shares during the quarter. Chemed comprises about 0.7% of Meritage Portfolio Management’s investment portfolio, making the stock its 25th biggest holding. Meritage Portfolio Management owned about 0.13% of Chemed worth $11,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CHE. GAMMA Investing LLC bought a new position in Chemed in the 4th quarter worth about $37,000. Linden Thomas Advisory Services LLC increased its position in shares of Chemed by 0.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,017 shares of the company’s stock valued at $4,103,000 after acquiring an additional 57 shares in the last quarter. Larson Financial Group LLC raised its holdings in Chemed by 86.9% in the 4th quarter. Larson Financial Group LLC now owns 157 shares of the company’s stock worth $92,000 after acquiring an additional 73 shares during the last quarter. LRT Capital Management LLC boosted its stake in Chemed by 11.5% during the 4th quarter. LRT Capital Management LLC now owns 5,460 shares of the company’s stock valued at $3,193,000 after purchasing an additional 565 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Chemed by 5.8% in the 4th 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. 95.85% of the stock is owned by institutional investors.

Chemed Price Performance

Shares of CHE stock traded down $10.16 on Friday, hitting $563.18. 57,567 shares of the stock traded hands, compared to its average volume of 79,493. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 2.48 and a beta of 0.42. The firm has a 50 day simple moving average of $623.76 and a two-hundred day simple moving average of $590.54. Chemed Co. has a 52 week low of $492.84 and a 52 week high of $654.62.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a net margin of 12.36% and a return on equity of 31.69%. The business had revenue of $589.23 million for the quarter, compared to the consensus estimate of $587.18 million. Sell-side analysts forecast that Chemed Co. will post 21.99 EPS for the current year.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a $0.40 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 0.28%. Chemed’s dividend payout ratio is currently 8.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Oppenheimer raised their price target on shares of Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Royal Bank of Canada raised their target price on Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a report on Monday, March 4th.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the completion of the transaction, the executive vice president now owns 20,760 shares in the company, valued at $13,320,654. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Spencer S. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael D. Witzeman sold 2,650 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $643.14, for a total value of $1,704,321.00. Following the transaction, the chief financial officer now owns 2,882 shares of the company’s stock, valued at approximately $1,853,529.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,808 shares of company stock worth $10,184,531. Corporate insiders own 3.32% of the company’s stock.

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.