Chemed Co. (NYSE:CHE) Stock Position Cut by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its stake in shares of Chemed Co. (NYSE:CHE - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473,523 shares of the company's stock after selling 12,259 shares during the quarter. William Blair Investment Management LLC owned about 3.15% of Chemed worth $250,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Chemed in the fourth quarter worth $42,023,000. HighTower Advisors LLC lifted its position in shares of Chemed by 78.0% during the third quarter. HighTower Advisors LLC now owns 3,730 shares of the company's stock valued at $2,246,000 after buying an additional 1,634 shares during the last quarter. XTX Topco Ltd boosted its stake in Chemed by 111.5% in the third quarter. XTX Topco Ltd now owns 2,843 shares of the company's stock valued at $1,709,000 after acquiring an additional 1,499 shares in the last quarter. Geode Capital Management LLC grew its stake in Chemed by 4.9% during the 3rd 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 last quarter. Finally, Signal Advisors Wealth LLC raised its holdings in shares of Chemed by 60.7% in the fourth quarter. Signal Advisors Wealth LLC now owns 4,995 shares of the company's stock worth $2,647,000 after buying an additional 1,886 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

Several research firms have commented on CHE. StockNews.com upgraded Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Royal Bank of Canada lifted their price target on Chemed from $633.00 to $667.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th.

Insider Activity at Chemed

In related 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 value of $1,187,340.00. Following the completion of the sale, the chief executive officer now directly owns 102,679 shares in the company, valued at approximately $60,957,441.93. This represents a 1.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian C. Judkins bought 145 shares of the stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $519.50 per share, with a total value of $75,327.50. Following the completion of the purchase, the vice president now directly owns 1,678 shares of the company's stock, valued at approximately $871,721. This represents a 9.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.32% of the stock is owned by insiders.

Chemed Trading Down 1.2 %

NYSE:CHE traded down $7.20 during midday trading on Friday, hitting $594.41. 358,340 shares of the company were exchanged, compared to its average volume of 88,898. The company has a fifty day simple moving average of $566.29 and a 200 day simple moving average of $565.60. The company has a market capitalization of $8.70 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 2.15 and a beta of 0.43. Chemed Co. has a fifty-two week low of $512.12 and a fifty-two week high of $648.75.

Chemed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors 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 dividend payout ratio is currently 10.05%.

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.