Ranger Investment Management L.P. Cuts Stake in Chemed Co. (NYSE:CHE)

Ranger Investment Management L.P. lessened its holdings in Chemed Co. (NYSE:CHE - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,303 shares of the company's stock after selling 1,020 shares during the quarter. Chemed comprises 1.8% of Ranger Investment Management L.P.'s portfolio, making the stock its 23rd largest position. Ranger Investment Management L.P. owned approximately 0.35% of Chemed worth $28,240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Chemed in the 4th quarter worth approximately $95,872,000. Raymond James Financial Inc. bought a new position in shares of Chemed during the fourth quarter valued at $42,023,000. FMR LLC raised its position in shares of Chemed by 18.9% in the 4th quarter. FMR LLC now owns 283,790 shares of the company's stock worth $150,352,000 after purchasing an additional 45,174 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Chemed by 114.1% in the 4th quarter. Principal Financial Group Inc. now owns 74,658 shares of the company's stock worth $39,554,000 after purchasing an additional 39,791 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in Chemed during the 4th quarter valued at about $12,880,000. Institutional investors own 95.85% of the company's stock.

Insider Activity

In other news, CEO Kevin J. Mcnamara sold 1,000 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $615.33, for a total transaction of $615,330.00. Following the sale, the chief executive officer now directly owns 101,679 shares in the company, valued at $62,566,139.07. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.32% of the company's stock.

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Analyst Ratings Changes

CHE has been the topic of several analyst reports. StockNews.com upgraded shares of Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Royal Bank of Canada upped their price objective on Chemed from $633.00 to $667.00 and gave the company an "outperform" rating in a research report on Friday, March 14th.

Chemed Stock Up 0.3 %

CHE traded up $1.74 during midday trading on Monday, hitting $595.13. 21,732 shares of the company traded hands, compared to its average volume of 97,019. The company's 50-day moving average is $583.16 and its 200 day moving average is $567.72. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $625.09. The firm has a market capitalization of $8.70 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.15 and a beta of 0.49.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, February 24th. Chemed's dividend payout ratio (DPR) is presently 10.05%.

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.