HighTower Advisors LLC Decreases Stock Holdings in Chemed Co. (NYSE:CHE)

HighTower Advisors LLC trimmed its holdings in Chemed Co. (NYSE:CHE) by 38.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,307 shares of the company’s stock after selling 1,423 shares during the quarter. HighTower Advisors LLC’s holdings in Chemed were worth $1,222,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its holdings in shares of Chemed by 300.0% in the 4th quarter. UMB Bank n.a. now owns 52 shares of the company’s stock valued at $28,000 after buying an additional 39 shares in the last quarter. Trust Co. of Vermont purchased a new position in Chemed during the 4th quarter worth approximately $34,000. Tortoise Investment Management LLC increased its position in Chemed by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company’s stock worth $41,000 after buying an additional 34 shares during the period. SRS Capital Advisors Inc. lifted its stake in Chemed by 39.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 135 shares of the company’s stock valued at $72,000 after buying an additional 38 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Chemed by 2,057.1% in the fourth quarter. Allworth Financial LP now owns 151 shares of the company’s stock valued at $83,000 after acquiring an additional 144 shares during the period. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $593.67, for a total transaction of $1,187,340.00. Following the transaction, the chief executive officer now directly owns 102,679 shares in the company, valued at $60,957,441.93. This represents a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian C. Judkins bought 145 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $519.50 per share, with a total value of $75,327.50. Following the completion of the acquisition, the vice president now owns 1,678 shares of the company’s stock, valued at $871,721. This trade represents a 9.46 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.32% of the company’s stock.

Chemed Trading Up 0.3 %

Shares of CHE opened at $608.54 on Wednesday. The firm’s 50-day moving average is $570.74 and its two-hundred day moving average is $565.85. The firm has a market capitalization of $8.91 billion, a P/E ratio of 30.75, a PEG ratio of 2.15 and a beta of 0.43. Chemed Co. has a twelve month low of $512.12 and a twelve month high of $646.71.

Chemed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, February 24th. Chemed’s dividend payout ratio (DPR) is presently 10.05%.

Wall Street Analyst Weigh In

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

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.