Bright Rock Capital Management LLC Takes $1.06 Million Position in Chemed Co. (NYSE:CHE)

Bright Rock Capital Management LLC purchased a new stake in shares of Chemed Co. (NYSE:CHE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,000 shares of the company’s stock, valued at approximately $1,060,000.

A number of other institutional investors and hedge funds have also modified their holdings of CHE. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Chemed by 2.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 580,316 shares of the company’s stock worth $314,868,000 after purchasing an additional 14,651 shares during the last quarter. State Street Corp grew its holdings in shares of Chemed by 0.8% in the third quarter. State Street Corp now owns 464,354 shares of the company’s stock worth $279,063,000 after acquiring an additional 3,564 shares during the period. Geode Capital Management LLC increased its position in Chemed by 4.9% during the third quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock valued at $201,820,000 after acquiring an additional 15,791 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Chemed by 4.7% in the third quarter. Impax Asset Management Group plc now owns 332,757 shares of the company’s stock valued at $199,977,000 after acquiring an additional 14,814 shares during the period. Finally, FMR LLC boosted its position in Chemed by 23.8% in the third quarter. FMR LLC now owns 238,616 shares of the company’s stock worth $143,401,000 after purchasing an additional 45,917 shares during the last quarter. Institutional investors own 95.85% of the company’s stock.

Chemed Stock Up 0.7 %

NYSE CHE opened at $534.04 on Wednesday. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $654.62. The company has a market capitalization of $8.04 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 2.32 and a beta of 0.47. The stock’s 50-day moving average price is $545.46 and its 200-day moving average price is $562.56.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share for the quarter, missing the consensus estimate of $5.76 by ($0.12). The firm had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. Chemed’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.32 EPS. Research analysts anticipate that Chemed Co. will post 21.43 EPS for the current year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Chemed’s payout ratio is presently 10.11%.

Analyst Ratings Changes

Several research firms have recently commented on CHE. Royal Bank of Canada reduced their price target on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th.

Insider Buying and Selling at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $572.77, for a total transaction of $1,145,540.00. Following the completion of the sale, the chief executive officer now directly owns 101,735 shares of the company’s stock, valued at $58,270,755.95. This trade represents a 1.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Spencer S. Lee sold 732 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $575.62, for a total transaction of $421,353.84. Following the completion of the transaction, the executive vice president now directly owns 18,287 shares in the company, valued at $10,526,362.94. This trade represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.32% of the company’s stock.

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.