Truist Financial Corp Has $5.40 Million Position in Chemed Co. (NYSE:CHE)

Truist Financial Corp boosted its stake in shares of Chemed Co. (NYSE:CHE) by 2.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,233 shares of the company’s stock after acquiring an additional 223 shares during the period. Truist Financial Corp’s holdings in Chemed were worth $5,399,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHE. Massachusetts Financial Services Co. MA bought a new position in shares of Chemed in the third quarter worth $47,655,000. International Assets Investment Management LLC bought a new position in Chemed in the 4th quarter valued at about $430,970,000. FMR LLC raised its position in shares of Chemed by 15.4% in the 3rd quarter. FMR LLC now owns 214,994 shares of the company’s stock valued at $111,732,000 after buying an additional 28,682 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Chemed by 9.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 287,386 shares of the company’s stock worth $149,355,000 after acquiring an additional 24,161 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Chemed by 24.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 112,964 shares of the company’s stock worth $58,123,000 after acquiring an additional 22,000 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 20,760 shares of the company’s stock, valued at $13,320,654. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the transaction, the vice president now directly owns 1,422 shares in the company, valued at $917,190. The disclosure for this sale can be found here. Insiders sold 15,808 shares of company stock valued at $10,184,531 over the last quarter. Insiders own 3.32% of the company’s stock.

Chemed Trading Up 0.4 %

Chemed stock opened at $561.65 on Monday. The stock has a 50-day moving average price of $620.66 and a two-hundred day moving average price of $593.70. Chemed Co. has a 12 month low of $492.84 and a 12 month high of $654.62. The company has a market capitalization of $8.50 billion, a PE ratio of 30.23, a P/E/G ratio of 2.29 and a beta of 0.46.

Chemed (NYSE:CHE) last issued 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). The business had revenue of $589.23 million for the quarter, compared to analyst estimates of $587.18 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. As a group, analysts predict that Chemed Co. will post 21.72 earnings per share for the current fiscal year.

Chemed Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on CHE shares. Royal Bank of Canada boosted their price objective on shares of Chemed from $604.00 to $712.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Oppenheimer raised their price objective on Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th.

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.