Police & Firemen s Retirement System of New Jersey Acquires 156 Shares of Chemed Corporation $CHE

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Chemed Corporation (NYSE:CHE) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,459 shares of the company’s stock after acquiring an additional 156 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Chemed were worth $2,658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Chemed by 4.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,926 shares of the company’s stock worth $938,000 after purchasing an additional 78 shares during the period. Wealth Alliance LLC lifted its position in Chemed by 7.1% in the second quarter. Wealth Alliance LLC now owns 631 shares of the company’s stock worth $307,000 after buying an additional 42 shares during the last quarter. KBC Group NV boosted its stake in Chemed by 395.4% during the second quarter. KBC Group NV now owns 3,101 shares of the company’s stock worth $1,510,000 after buying an additional 2,475 shares during the period. Jupiter Asset Management Ltd. boosted its stake in Chemed by 35.0% during the second quarter. Jupiter Asset Management Ltd. now owns 69,563 shares of the company’s stock worth $33,872,000 after buying an additional 18,047 shares during the period. Finally, Boston Partners increased its position in Chemed by 37.1% during the second quarter. Boston Partners now owns 22,651 shares of the company’s stock valued at $11,028,000 after acquiring an additional 6,125 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CHE shares. Zacks Research raised shares of Chemed from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Oppenheimer decreased their price objective on shares of Chemed from $650.00 to $580.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Jefferies Financial Group raised Chemed from a “hold” rating to a “buy” rating and upped their target price for the company from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Bank of America decreased their price target on Chemed from $610.00 to $595.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chemed in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $574.25.

Insider Activity

In related news, Director Patrick P. Grace sold 150 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total value of $69,508.50. Following the completion of the sale, the director directly owned 3,397 shares of the company’s stock, valued at $1,574,135.83. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin J. Mcnamara sold 3,000 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $461.28, for a total transaction of $1,383,840.00. Following the transaction, the chief executive officer owned 96,197 shares in the company, valued at approximately $44,373,752.16. The trade was a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.29% of the company’s stock.

Chemed Stock Performance

Shares of NYSE:CHE opened at $435.49 on Wednesday. The firm’s 50 day simple moving average is $442.78 and its 200-day simple moving average is $480.87. Chemed Corporation has a one year low of $408.42 and a one year high of $623.60. The firm has a market cap of $6.17 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.69 and a beta of 0.43.

Chemed (NYSE:CHE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.39 by ($0.12). The firm had revenue of $624.90 million during the quarter, compared to the consensus estimate of $626.04 million. Chemed had a return on equity of 25.89% and a net margin of 11.02%.The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $5.64 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Equities research analysts predict that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, November 17th. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Chemed’s dividend payout ratio (DPR) is currently 12.69%.

About Chemed

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.