Norges Bank Purchases New Holdings in Chemed Co. (NYSE:CHE)

Norges Bank acquired a new position in shares of Chemed Co. (NYSE:CHE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 180,958 shares of the company’s stock, valued at approximately $95,872,000. Norges Bank owned 1.20% of Chemed at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cerity Partners LLC grew its position in Chemed by 30.8% in the 3rd quarter. Cerity Partners LLC now owns 849 shares of the company’s stock valued at $510,000 after buying an additional 200 shares during the last quarter. FMR LLC lifted its stake in shares of Chemed by 23.8% in the 3rd quarter. FMR LLC now owns 238,616 shares of the company’s stock worth $143,401,000 after acquiring an additional 45,917 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Chemed by 7.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,920 shares of the company’s stock valued at $27,597,000 after acquiring an additional 3,314 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Chemed during the third quarter worth about $2,952,000. Finally, Holocene Advisors LP raised its holdings in Chemed by 14.8% during the third quarter. Holocene Advisors LP now owns 10,470 shares of the company’s stock worth $6,292,000 after purchasing an additional 1,353 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 1,000 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $615.33, for a total transaction of $615,330.00. Following the sale, the chief executive officer now directly owns 101,679 shares in the company, valued at approximately $62,566,139.07. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.32% of the company’s stock.

Chemed Stock Up 0.5 %

Shares of NYSE CHE opened at $618.14 on Wednesday. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.15 and a beta of 0.43. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $639.61. The firm has a 50-day moving average price of $576.54 and a 200 day moving average price of $567.29.

Chemed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were given a dividend of $0.50 per share. The ex-dividend date was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. Chemed’s payout ratio is 10.05%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada boosted their target price 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 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.