Chemed Corporation $CHE Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia increased its stake in shares of Chemed Corporation (NYSE:CHE) by 94.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,844 shares of the company’s stock after purchasing an additional 10,622 shares during the period. Bank of Nova Scotia owned 0.16% of Chemed worth $8,251,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sei Investments Co. raised its holdings in Chemed by 32.6% in the 1st quarter. Sei Investments Co. now owns 59,243 shares of the company’s stock valued at $22,381,000 after acquiring an additional 14,566 shares during the last quarter. Cetera Investment Advisers grew its stake in Chemed by 5.1% during the first quarter. Cetera Investment Advisers now owns 3,244 shares of the company’s stock worth $1,226,000 after buying an additional 158 shares during the period. First Trust Advisors LP boosted its position in Chemed by 24.7% during the 1st quarter. First Trust Advisors LP now owns 236,392 shares of the company’s stock worth $89,295,000 after purchasing an additional 46,791 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Chemed by 22.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the company’s stock worth $753,000 after purchasing an additional 370 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its position in shares of Chemed by 7.6% in the first quarter. Copeland Capital Management LLC now owns 147,957 shares of the company’s stock worth $55,889,000 after buying an additional 10,406 shares during the period. 95.85% of the stock is owned by institutional investors and hedge funds.

Chemed Stock Performance

CHE opened at $510.28 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $458.59 and its 200-day moving average is $433.61. The stock has a market cap of $6.77 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.88 and a beta of 0.52. Chemed Corporation has a twelve month low of $365.20 and a twelve month high of $517.74.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $5.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.30 by $0.35. Chemed had a return on equity of 27.18% and a net margin of 10.23%.The business had revenue of $657.51 million during the quarter, compared to analyst estimates of $659.22 million. During the same period in the prior year, the company posted $5.63 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts predict that Chemed Corporation will post 22.67 earnings per share for the current year.

Chemed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Thursday, May 28th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. Chemed’s dividend payout ratio (DPR) is 13.08%.

Insiders Place Their Bets

In other news, Director Andrea R. Lindell sold 1,347 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $447.33, for a total transaction of $602,553.51. Following the completion of the sale, the director directly owned 4,578 shares of the company’s stock, valued at $2,047,876.74. This trade represents a 22.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $421.13, for a total value of $842,260.00. Following the completion of the transaction, the chief executive officer directly owned 90,219 shares in the company, valued at $37,993,927.47. This represents a 2.17% decrease in their position. The SEC filing for this sale provides additional information. 3.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America raised their target price on Chemed from $450.00 to $510.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Chemed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 17th. Royal Bank Of Canada raised their price objective on shares of Chemed from $422.00 to $436.00 and gave the stock a “sector perform” rating in a report on Monday, April 27th. Zacks Research upgraded shares of Chemed from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Wall Street Zen cut Chemed from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $480.25.

Chemed Profile

Chemed Corporation is a diversified provider of essential home services and healthcare solutions in the United States. Headquartered in Cincinnati, Ohio, the company operates through two principal business segments—Roto-Rooter and Vitas Healthcare. Since its founding in 1974, Chemed has built a reputation for reliability and expertise, serving both residential and commercial customers across a broad range of markets.

The Roto-Rooter segment offers a comprehensive suite of plumbing, drain cleaning and water restoration services.