Bridges Investment Management Inc. Trims Position in Chemed Co. (NYSE:CHE)

Bridges Investment Management Inc. trimmed its holdings in shares of Chemed Co. (NYSE:CHE - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,473 shares of the company's stock after selling 4,756 shares during the quarter. Bridges Investment Management Inc. owned about 0.45% of Chemed worth $35,747,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHE. FMR LLC grew its stake in Chemed by 23.8% in the 3rd quarter. FMR LLC now owns 238,616 shares of the company's stock worth $143,401,000 after buying an additional 45,917 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Chemed by 114.1% during the 4th quarter. Principal Financial Group Inc. now owns 74,658 shares of the company's stock worth $39,554,000 after acquiring an additional 39,791 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Chemed by 25.3% in the third quarter. Thrivent Financial for Lutherans now owns 146,017 shares of the company's stock worth $87,752,000 after acquiring an additional 29,445 shares in the last quarter. Aureus Asset Management LLC increased its stake in Chemed by 3,147.2% in the third quarter. Aureus Asset Management LLC now owns 29,939 shares of the company's stock valued at $17,993,000 after acquiring an additional 29,017 shares during the last quarter. Finally, Boston Trust Walden Corp increased its stake in Chemed by 10.0% in the fourth quarter. Boston Trust Walden Corp now owns 242,172 shares of the company's stock valued at $128,303,000 after acquiring an additional 22,105 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

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Chemed Stock Up 1.3 %

Shares of Chemed stock traded up $7.42 during trading on Wednesday, reaching $595.07. The company's stock had a trading volume of 106,099 shares, compared to its average volume of 98,536. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.15 and a beta of 0.48. The firm's 50-day moving average is $549.47 and its two-hundred day moving average is $563.54. Chemed Co. has a 52-week low of $512.12 and a 52-week high of $654.62.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Chemed's dividend payout ratio (DPR) is currently 10.05%.

Insider Transactions at Chemed

In related news, VP Brian C. Judkins purchased 145 shares of Chemed stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $519.50 per share, for a total transaction of $75,327.50. Following the transaction, the vice president now directly owns 1,678 shares in the company, valued at $871,721. The trade was a 9.46 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.32% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada cut their price objective on Chemed from $697.00 to $633.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. StockNews.com downgraded Chemed from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th.

Chemed 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.