Envestnet Asset Management Inc. Reduces Position in Chemed Co. (NYSE:CHE)

Envestnet Asset Management Inc. trimmed its position in Chemed Co. (NYSE:CHE) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,428 shares of the company’s stock after selling 1,408 shares during the quarter. Envestnet Asset Management Inc. owned 0.51% of Chemed worth $40,492,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. raised its position in 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 purchasing an additional 39 shares during the last quarter. Atala Financial Inc purchased a new position in shares of Chemed during the fourth quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC raised its holdings 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 valued at $30,000 after acquiring an additional 22 shares in the last quarter. Trust Co. of Vermont purchased a new stake in Chemed in the fourth quarter worth $34,000. Finally, Tortoise Investment Management LLC boosted its holdings in 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 acquiring an additional 34 shares in the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 102,679 shares in the company, valued at approximately $60,957,441.93. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.32% of the company’s stock.

Chemed Stock Up 0.2 %

CHE opened at $591.44 on Friday. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $625.09. The stock has a market cap of $8.64 billion, a PE ratio of 29.89, a PEG ratio of 2.15 and a beta of 0.49. The business has a 50 day moving average of $583.16 and a 200-day moving average of $567.95.

Chemed Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Royal Bank of Canada increased their price target 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 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.