Bridges Investment Management Inc. Cuts Stake in Chemed Co. (NYSE:CHE)

Bridges Investment Management Inc. trimmed its stake in Chemed Co. (NYSE:CHE) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. grew its stake in shares of Chemed by 300.0% during 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 during the period. Trust Co. of Vermont purchased a new stake in Chemed during the fourth quarter valued at about $34,000. Allworth Financial LP increased its stake in Chemed by 2,057.1% during the fourth quarter. Allworth Financial LP now owns 151 shares of the company’s stock worth $83,000 after acquiring an additional 144 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Chemed by 2,314.3% during the third quarter. Farther Finance Advisors LLC now owns 338 shares of the company’s stock worth $203,000 after acquiring an additional 324 shares during the last quarter. Finally, KBC Group NV increased its stake in Chemed by 11.5% during the third quarter. KBC Group NV now owns 378 shares of the company’s stock worth $227,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Analyst Upgrades and Downgrades

CHE has been the subject of several research analyst reports. Royal Bank of Canada dropped their price target on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. StockNews.com lowered Chemed from a “buy” rating to a “hold” rating in a research note on Thursday.

Insider Transactions at Chemed

In related news, VP Brian C. Judkins bought 145 shares of the firm’s stock in a transaction dated 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 transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.32% of the company’s stock.

Chemed Price Performance

Shares of NYSE CHE opened at $600.46 on Friday. Chemed Co. has a 1-year low of $512.12 and a 1-year high of $654.62. The business has a 50-day moving average of $546.69 and a 200-day moving average of $563.45. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 2.15 and a beta of 0.48.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Monday, February 24th. Chemed’s payout ratio is 10.11%.

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.