Parallel Advisors LLC Lowers Stake in Chemed Co. (NYSE:CHE)

Parallel Advisors LLC lessened its stake in Chemed Co. (NYSE:CHE) by 37.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 662 shares of the company’s stock after selling 404 shares during the period. Parallel Advisors LLC’s holdings in Chemed were worth $351,000 at the end of the most recent quarter.

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

Insider Transactions at Chemed

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

Chemed Stock Performance

CHE stock opened at $594.41 on Friday. Chemed Co. has a fifty-two week low of $512.12 and a fifty-two week high of $648.75. The company’s 50 day moving average price is $567.72 and its 200 day moving average price is $565.66. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.15 and a beta of 0.43.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Chemed’s payout ratio is 10.05%.

Analysts Set New Price Targets

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

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.