Bank of Nova Scotia Purchases 1,668 Shares of Chemed Co. (NYSE:CHE)

Bank of Nova Scotia increased its holdings in Chemed Co. (NYSE:CHE - Free Report) by 52.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,842 shares of the company's stock after purchasing an additional 1,668 shares during the period. Bank of Nova Scotia's holdings in Chemed were worth $2,565,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CHE. Raymond James Financial Inc. bought a new stake in Chemed during the fourth quarter worth approximately $42,023,000. HighTower Advisors LLC lifted its position in Chemed by 78.0% in the third quarter. HighTower Advisors LLC now owns 3,730 shares of the company's stock worth $2,246,000 after buying an additional 1,634 shares during the last quarter. Geode Capital Management LLC boosted its stake in Chemed by 4.9% during the third quarter. Geode Capital Management LLC now owns 335,443 shares of the company's stock worth $201,820,000 after buying an additional 15,791 shares during the period. Signal Advisors Wealth LLC increased its position in Chemed by 60.7% during the fourth quarter. Signal Advisors Wealth LLC now owns 4,995 shares of the company's stock valued at $2,647,000 after acquiring an additional 1,886 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Chemed by 10.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,182 shares of the company's stock valued at $72,149,000 after acquiring an additional 13,394 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $593.67, for a total transaction of $1,187,340.00. Following the sale, the chief executive officer now owns 102,679 shares of the company's stock, valued at approximately $60,957,441.93. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.32% of the company's stock.

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Chemed Trading Down 2.1 %

Shares of NYSE CHE traded down $12.42 during mid-day trading on Tuesday, reaching $588.27. The company had a trading volume of 106,219 shares, compared to its average volume of 97,457. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.15 and a beta of 0.49. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $623.61. The business's 50-day moving average is $584.60 and its 200-day moving average is $567.87.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, February 24th. This represents a $2.00 annualized dividend and a yield of 0.34%. Chemed's payout ratio is currently 10.05%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Chemed from $633.00 to $667.00 and gave the company an "outperform" rating in a report on Friday, March 14th. StockNews.com raised Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

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.