Chemed Co. (NYSE:CHE) Holdings Boosted by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its position in shares of Chemed Co. (NYSE:CHE) by 292.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,241 shares of the company’s stock after purchasing an additional 925 shares during the period. Harbor Capital Advisors Inc.’s holdings in Chemed were worth $673,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHE. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Chemed in the 1st quarter valued at $1,064,000. ProShare Advisors LLC lifted its stake in shares of Chemed by 6,288.9% in the 1st quarter. ProShare Advisors LLC now owns 50,600 shares of the company’s stock valued at $32,482,000 after purchasing an additional 49,808 shares during the last quarter. Cim LLC acquired a new stake in shares of Chemed in the 4th quarter valued at $1,328,000. Sei Investments Co. lifted its stake in shares of Chemed by 4.5% in the 1st quarter. Sei Investments Co. now owns 41,336 shares of the company’s stock valued at $26,535,000 after purchasing an additional 1,780 shares during the last quarter. Finally, American National Bank & Trust Co. VA acquired a new stake in shares of Chemed in the 1st quarter valued at $3,122,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $569.63, for a total transaction of $1,139,260.00. Following the sale, the chief executive officer now directly owns 105,735 shares of the company’s stock, valued at $60,229,828.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $569.63, for a total transaction of $1,139,260.00. Following the sale, the chief executive officer now directly owns 105,735 shares of the company’s stock, valued at $60,229,828.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider M. Westfall Nicholas 23,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders have sold a total of 9,784 shares of company stock valued at $5,502,473 over the last quarter. 3.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Royal Bank of Canada cut their target price on shares of Chemed from $712.00 to $697.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st.

Chemed Stock Performance

Shares of CHE traded down $6.99 during trading hours on Wednesday, reaching $568.74. 107,830 shares of the company traded hands, compared to its average volume of 88,664. The stock has a market cap of $8.61 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 2.40 and a beta of 0.43. The stock’s fifty day moving average is $545.69 and its 200 day moving average is $582.49. Chemed Co. has a 1-year low of $492.84 and a 1-year high of $654.62.

Chemed (NYSE:CHE) last posted its earnings results 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 business had revenue of $595.88 million during the quarter, compared to the consensus estimate of $599.20 million. Chemed had a net margin of 12.88% and a return on equity of 29.21%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.71 EPS. On average, equities research analysts predict that Chemed Co. will post 21.77 EPS for the current year.

Chemed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be paid a $0.50 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. This is a boost from Chemed’s previous quarterly dividend of $0.40. Chemed’s payout ratio is presently 8.61%.

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.