NewEdge Wealth LLC Cuts Position in Chemed Co. (NYSE:CHE)

NewEdge Wealth LLC reduced its stake in shares of Chemed Co. (NYSE:CHE) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,839 shares of the company’s stock after selling 23 shares during the period. NewEdge Wealth LLC’s holdings in Chemed were worth $3,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in Chemed by 300.0% during the 4th quarter. UMB Bank n.a. now owns 52 shares of the company’s stock worth $28,000 after acquiring an additional 39 shares in the last quarter. Trust Co. of Vermont acquired a new position in Chemed during the 4th quarter worth approximately $34,000. Allworth Financial LP lifted its position in Chemed by 2,057.1% during the 4th quarter. Allworth Financial LP now owns 151 shares of the company’s stock worth $83,000 after acquiring an additional 144 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Chemed by 2,314.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 338 shares of the company’s stock worth $203,000 after acquiring an additional 324 shares in the last quarter. Finally, KBC Group NV lifted its position in Chemed by 11.5% during the 3rd quarter. KBC Group NV now owns 378 shares of the company’s stock worth $227,000 after acquiring an additional 39 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chemed

In other Chemed news, VP Brian C. Judkins bought 145 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $519.50 per share, with a total value of $75,327.50. Following the transaction, the vice president now directly owns 1,678 shares in the company, valued at approximately $871,721. This trade represents a 9.46 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.32% of the stock is currently owned by corporate insiders.

Chemed Stock Up 2.4 %

Shares of CHE opened at $600.46 on Friday. The business’s 50 day moving average is $545.15 and its two-hundred day moving average is $563.27. Chemed Co. has a 52-week low of $512.12 and a 52-week high of $654.62. The firm has a market cap 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 firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CHE shares. StockNews.com lowered Chemed from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada cut their target price on Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

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.