Chemed Co. (NYSE:CHE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Chemed Co. (NYSE:CHE) by 9.6% in the third quarter, HoldingsChannel.com reports. The firm owned 1,842 shares of the company’s stock after selling 196 shares during the period. PNC Financial Services Group Inc.’s holdings in Chemed were worth $1,107,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Chemed by 105.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,733 shares of the company’s stock valued at $40,913,000 after buying an additional 32,752 shares in the last quarter. LRI Investments LLC acquired a new position in Chemed in the 1st quarter valued at about $171,000. Cetera Advisors LLC acquired a new position in Chemed in the 1st quarter valued at about $267,000. EULAV Asset Management increased its stake in Chemed by 7.5% during the first quarter. EULAV Asset Management now owns 111,399 shares of the company’s stock worth $71,510,000 after purchasing an additional 7,800 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Chemed by 34.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 154,579 shares of the company’s stock worth $98,516,000 after purchasing an additional 39,633 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Chemed Stock Performance

Shares of CHE opened at $571.29 on Thursday. Chemed Co. has a 1 year low of $523.33 and a 1 year high of $654.62. The stock has a market capitalization of $8.60 billion, a PE ratio of 28.86, a PEG ratio of 2.43 and a beta of 0.46. The stock has a 50-day simple moving average of $578.86 and a 200-day simple moving average of $564.98.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.76 by ($0.12). Chemed had a return on equity of 27.86% and a net margin of 12.69%. The firm had revenue of $606.18 million during the quarter, compared to analysts’ expectations of $612.22 million. During the same quarter in the prior year, the firm earned $5.32 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Analysts predict that Chemed Co. will post 21.43 EPS for the current year.

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Monday, November 18th. Chemed’s dividend payout ratio (DPR) is presently 10.11%.

Insider Buying and Selling at Chemed

In related news, Director George J. Walsh III sold 400 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $597.47, for a total value of $238,988.00. Following the transaction, the director now directly owns 3,046 shares of the company’s stock, valued at $1,819,893.62. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $569.35, for a total transaction of $975,296.55. Following the completion of the sale, the executive vice president now directly owns 6,109 shares of the company’s stock, valued at approximately $3,478,159.15. This trade represents a 21.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,113 shares of company stock worth $3,557,445 over the last ninety days. Corporate insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CHE. Royal Bank of Canada cut their target price on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. StockNews.com downgraded shares of Chemed from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd.

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.