Centaurus Financial Inc. Reduces Stake in Chemed Co. (NYSE:CHE)

Posted by Defense World Staff on Mar 19th, 2023

Centaurus Financial Inc. trimmed its stake in Chemed Co. (NYSE:CHE – Get Rating) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 934 shares of the company’s stock after selling 215 shares during the quarter. Centaurus Financial Inc.’s holdings in Chemed were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHE. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Chemed during the 3rd quarter valued at approximately $75,661,000. Invesco Ltd. lifted its stake in Chemed by 144.0% in the 1st quarter. Invesco Ltd. now owns 184,312 shares of the company’s stock worth $93,363,000 after purchasing an additional 108,759 shares in the last quarter. Renaissance Group LLC purchased a new stake in Chemed in the 3rd quarter worth approximately $22,483,000. Renaissance Technologies LLC lifted its stake in Chemed by 29.2% in the 2nd quarter. Renaissance Technologies LLC now owns 165,995 shares of the company’s stock worth $77,916,000 after purchasing an additional 37,495 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Chemed by 214.0% in the 3rd quarter. Raymond James & Associates now owns 53,728 shares of the company’s stock worth $23,455,000 after purchasing an additional 36,618 shares in the last quarter. 91.12% of the stock is currently owned by hedge funds and other institutional investors.

Chemed Stock Performance

Shares of CHE stock opened at $514.70 on Friday. The company has a 50 day moving average price of $507.07 and a 200-day moving average price of $491.67. Chemed Co. has a 52 week low of $430.16 and a 52 week high of $539.13. The firm has a market capitalization of $7.69 billion, a PE ratio of 31.14, a P/E/G ratio of 2.81 and a beta of 0.52. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 0.12.

Chemed (NYSE:CHE – Get Rating) last announced its earnings results on Friday, February 24th. The company reported $5.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.09. The company had revenue of $546.65 million during the quarter, compared to analyst estimates of $546.60 million. Chemed had a net margin of 11.69% and a return on equity of 41.54%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.25 earnings per share. As a group, equities research analysts expect that Chemed Co. will post 20.85 earnings per share for the current year.

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Monday, February 27th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 24th. This represents a $1.52 annualized dividend and a yield of 0.30%. Chemed’s dividend payout ratio (DPR) is 9.20%.

Insider Activity at Chemed

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $507.32, for a total transaction of $1,014,640.00. Following the completion of the sale, the chief executive officer now directly owns 121,613 shares in the company, valued at $61,696,707.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on CHE shares. Royal Bank of Canada increased their target price on shares of Chemed from $545.00 to $587.00 and gave the stock an “outperform” rating in a research note on Monday, February 27th. StockNews.com assumed coverage on shares of Chemed in a research report on Thursday. They issued a “buy” rating for the company.

Chemed Company Profile

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Chemed Corp. engages in the provision of healthcare and maintenance services. It operates through the VITAS and Roto-Rooter segments. The VITAS segment offers hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.