As of its most recent filing with the Securities and Exchange Commission (SEC), Xponance Inc. has increased its stake in shares of Chemed Co. by 18.1% during the second quarter of this year. According to the filing, Xponance Inc. now owns 2,920 shares of Chemed’s stock, after acquiring an additional 448 shares over the course of the quarter. The total value of Xponance Inc.’s holdings in Chemed stands at $1,582,000.
Chemed is a company that recently made headlines with its announcement of a quarterly dividend payment. The dividend was paid on September 5th to investors who were recorded as shareholders on August 14th. Each shareholder received a dividend payment of $0.40 per share. It is worth noting that the ex-dividend date for this particular dividend was on August 11th.
This new dividend represents a positive change for Chemed, as it is an increase from their previous quarterly dividend payout of $0.38 per share. When measured on an annual basis, this new dividend amounts to $1.60 per share and offers a yield of approximately 0.31%. Furthermore, Chemed’s current payout ratio stands at 10.67%.
Chemed’s decision to increase its quarterly dividend reflects positively on the performance and financial outlook of the company. Investors will likely view this move as a sign of confidence from management regarding their ability to generate consistent profits and sustainably distribute them among shareholders.
Chemed is known for providing industry-leading services in both the hospice care and plumbing sectors through two distinct subsidiaries: VITAS Healthcare and Roto-Rooter Services Company, respectively.
VITAS Healthcare is considered one of America’s leading providers of end-of-life care services, offering comfort and support to patients during their final stages of life in various states across the country.
On the other hand, Roto-Rooter Services Company is renowned for its plumbing, drain cleaning, and water cleanup services. The company’s highly trained technicians strive to provide efficient solutions and exceptional customer service to both residential and commercial clients.
Chemed’s steady growth and commitment to delivering value to shareholders are evident through its decision to increase the quarterly dividend. This move showcases a strong financial performance and signals confidence in the future success of the company.
Investors and analysts will surely keep a close eye on Chemed in the months ahead to assess its continued growth trajectory, financial stability, and ability to generate sustainable returns for shareholders.
Institutional Investors Show Strong Confidence in Chemed Co.’s Growth Potential
Chemed Co., a leading provider of healthcare and hospice services, has seen significant changes in its ownership by institutional investors over the past few quarters. One notable change is the increase in stake by Envestnet Asset Management Inc., which has raised its ownership by a staggering 824.8% in the first quarter of this year. As a result, Envestnet now owns 477,838 shares of Chemed’s stock valued at $26,486,000.
Another institutional investor that acquired a new stake in Chemed is Impax Asset Management Group plc. In the first quarter, Impax purchased shares worth approximately $145,407,000. This substantial investment showcases their confidence in Chemed’s potential for future growth.
Morgan Stanley also increased its stake in Chemed by 175.0% during the last quarter. Currently, Morgan Stanley holds 362,270 shares of the company’s stock valued at $184,914,000.
Durable Capital Partners LP joined the list of institutional investors with a new stake in Chemed as well. They invested approximately $98,742,000 during the fourth quarter.
Moreover, Norges Bank entered the scene by acquiring a new stake in Chemed worth approximately $71,705,000 during the fourth quarter.
These investments from various prominent institutions indicate strong interest and confidence in Chemed’s business prospects and potential for future success.
According to reports from equities analysts on CHE shares from Royal Bank of Canada and StockNews.com, there seems to be optimism surrounding Chemed’s performance in the market.
Royal Bank of Canada lowered their price target on CHE shares from $610.00 to $576.00 but maintained an “outperform” rating on the stock. Similarly, StockNews.com upgraded their rating on Chemed from “hold” to “buy.”
As of Wednesday’s market opening (September 27), CHE shares were valued at $513.90. The company has a 1-year low of $430.16 and a 1-year high of $574.66.
Chemed currently has a market capitalization of $7.75 billion and boasts a P/E ratio of 34.26, indicating investor confidence in the company’s profitability.
The firm’s fifty-day simple moving average stands at $516.30, while its two hundred-day simple moving average is slightly higher at $532.41.
On July 26th, Chemed released its earnings results for the quarter ending in July 2023. The company reported earnings per share (EPS) of $4.71, falling short of analysts’ consensus estimate of $5.09 by ($0.38). Despite this, Chemed displayed a return on equity of 34.65% and a net margin of 10.36%. Revenue for the quarter was recorded at $553.80 million compared to the consensus estimate of $562.54 million. However, it is worth noting that these figures represent a 4.2% increase compared to the same period last year.
Equities research analysts are optimistic about Chemed’s future performance and expect to see earnings per share (EPS) totaling approximately 19.12 for the current fiscal year.
In conclusion, Chemed Co.’s ownership landscape has witnessed significant shifts as institutional investors have increased their stakes in the company through various acquisitions over recent quarters. These changes highlight the growing confidence in Chemed’s potential for future growth and success within the healthcare industry.