Pinebridge Investments L.P. Lowers Position in Chemed Co. (NYSE:CHE)

Pinebridge Investments L.P. reduced its position in Chemed Co. (NYSE:CHE) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,528 shares of the company’s stock after selling 1,086 shares during the period. Pinebridge Investments L.P.’s holdings in Chemed were worth $2,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in Chemed by 300.0% during the fourth quarter. UMB Bank n.a. now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 39 shares in the last quarter. Atala Financial Inc purchased a new position in Chemed in the 4th quarter valued at about $29,000. CBIZ Investment Advisory Services LLC boosted its holdings in Chemed by 64.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock worth $30,000 after buying an additional 22 shares during the last quarter. Trust Co. of Vermont purchased a new stake in Chemed during the 4th quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC raised its holdings in shares of Chemed by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company’s stock valued at $41,000 after acquiring an additional 34 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Chemed Price Performance

CHE opened at $556.57 on Friday. The company’s 50 day simple moving average is $587.66 and its two-hundred day simple moving average is $566.89. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.15 and a beta of 0.49. Chemed Co. has a 1-year low of $512.12 and a 1-year high of $623.61.

Chemed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Monday, February 24th. Chemed’s dividend payout ratio (DPR) is currently 9.74%.

Insider Buying and Selling at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s 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 owns 102,679 shares of the company’s stock, valued at approximately $60,957,441.93. The trade was a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.