Connor Clark & Lunn Investment Management Ltd. Makes New $2.99 Million Investment in Chemed Corporation $CHE

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Chemed Corporation (NYSE:CHE) in the 2nd quarter, HoldingsChannel reports. The fund acquired 6,144 shares of the company’s stock, valued at approximately $2,992,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. lifted its stake in Chemed by 249.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 130,037 shares of the company’s stock valued at $80,015,000 after acquiring an additional 92,813 shares during the last quarter. Woodline Partners LP lifted its stake in Chemed by 2,681.0% in the 1st quarter. Woodline Partners LP now owns 58,178 shares of the company’s stock valued at $35,798,000 after purchasing an additional 56,086 shares during the last quarter. Nuveen LLC bought a new position in Chemed during the first quarter worth about $30,527,000. Jacobs Levy Equity Management Inc. acquired a new position in Chemed during the first quarter worth approximately $26,059,000. Finally, Candriam S.C.A. raised its stake in Chemed by 207.7% in the first quarter. Candriam S.C.A. now owns 45,178 shares of the company’s stock valued at $27,799,000 after buying an additional 30,495 shares during the period. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Patrick P. Grace sold 150 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 3,397 shares in the company, valued at approximately $1,574,135.83. The trade was a 4.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin J. Mcnamara sold 3,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 96,197 shares of the company’s stock, valued at approximately $44,373,752.16. This trade represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.29% of the stock is owned by company insiders.

Chemed Trading Down 2.4%

NYSE CHE opened at $435.18 on Friday. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.69 and a beta of 0.43. The company has a 50 day moving average of $443.97 and a 200-day moving average of $484.16. Chemed Corporation has a 1-year low of $408.42 and a 1-year high of $623.60.

Chemed (NYSE:CHE) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.12). The company had revenue of $624.90 million for 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%.Chemed’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $5.64 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, equities research analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on CHE. Bank of America reduced their target price on Chemed from $610.00 to $595.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Oppenheimer reduced their target price on shares of Chemed from $650.00 to $580.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Royal Bank Of Canada lowered their price target on shares of Chemed from $589.00 to $572.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Jefferies Financial Group upgraded shares of Chemed from a “hold” rating to a “buy” rating and raised their price objective for the stock from $490.00 to $550.00 in a research report on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Chemed in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Chemed has a consensus rating of “Moderate Buy” and a consensus target price of $574.25.

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.