Daiwa Securities Group Inc. Has $3.25 Million Holdings in Chemed Co. (NYSE:CHE)

Daiwa Securities Group Inc. trimmed its position in shares of Chemed Co. (NYSE:CHE) by 37.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,549 shares of the company’s stock after selling 3,270 shares during the period. Daiwa Securities Group Inc.’s holdings in Chemed were worth $3,245,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CHE. Chicago Capital LLC acquired a new position in Chemed during the fourth quarter worth $1,170,000. Raymond James & Associates increased its position in shares of Chemed by 5.7% during the fourth quarter. Raymond James & Associates now owns 67,918 shares of the company’s stock worth $39,715,000 after acquiring an additional 3,654 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of Chemed by 229.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 5,984 shares of the company’s stock worth $3,110,000 after acquiring an additional 4,166 shares during the last quarter. Trust Point Inc. bought a new position in Chemed in the 4th quarter valued at about $2,325,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Chemed by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 97,335 shares of the company’s stock valued at $50,585,000 after purchasing an additional 1,283 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CHE shares. Royal Bank of Canada increased their price objective on Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Oppenheimer increased their price target on Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th.

Insider Transactions at Chemed

In related news, EVP Spencer S. Lee sold 2,000 shares of the 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 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 through this link. In other Chemed news, CFO Michael D. Witzeman sold 2,650 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $643.14, for a total value of $1,704,321.00. Following the sale, the chief financial officer now directly owns 2,882 shares in the company, valued at $1,853,529.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Spencer S. Lee sold 2,000 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The disclosure for this sale can be found here. Insiders have sold 15,808 shares of company stock worth $10,184,531 in the last ninety days. Company insiders own 4.03% of the company’s stock.

Chemed Stock Performance

Chemed stock opened at $600.41 on Friday. The stock has a market cap of $9.08 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.42. Chemed Co. has a fifty-two week low of $492.84 and a fifty-two week high of $654.62. The firm’s 50-day simple moving average is $622.02 and its 200 day simple moving average is $588.53.

Chemed (NYSE:CHE) last announced its earnings results on Tuesday, February 27th. The company reported $6.60 earnings per share for the quarter, topping analysts’ consensus estimates of $6.25 by $0.35. The firm had revenue of $585.90 million for the quarter, compared to the consensus estimate of $586.64 million. Chemed had a return on equity of 32.29% and a net margin of 12.03%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.39 EPS. As a group, analysts predict that Chemed Co. will post 21.99 EPS for the current fiscal year.

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio is presently 8.93%.

Chemed 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.