Raymond James Financial Inc. Makes New Investment in Chemed Co. (NYSE:CHE)

Raymond James Financial Inc. purchased a new position in shares of Chemed Co. (NYSE:CHE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 79,318 shares of the company’s stock, valued at approximately $42,023,000. Raymond James Financial Inc. owned approximately 0.53% of Chemed at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CHE. UMB Bank n.a. boosted its position in Chemed by 300.0% during the fourth quarter. UMB Bank n.a. now owns 52 shares of the company’s stock worth $28,000 after purchasing an additional 39 shares in the last quarter. Atala Financial Inc purchased a new stake in shares of Chemed in the 4th quarter worth about $29,000. CBIZ Investment Advisory Services LLC grew its stake in Chemed by 64.7% in the 4th 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 during the last quarter. Trust Co. of Vermont purchased a new position in Chemed during the 4th quarter valued at about $34,000. Finally, Tortoise Investment Management LLC raised its position in Chemed by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company’s stock worth $41,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CHE. Royal Bank of Canada raised their price target 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 upgraded Chemed from a “hold” rating to a “buy” rating in a research report on Friday, March 7th.

Chemed Stock Performance

Shares of CHE opened at $588.27 on Wednesday. The company has a market capitalization of $8.60 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.15 and a beta of 0.49. Chemed Co. has a fifty-two week low of $512.12 and a fifty-two week high of $623.61. The stock has a fifty day moving average of $584.60 and a two-hundred day moving average of $567.87.

Chemed Announces Dividend

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

Insider Transactions at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $593.67, for a total transaction of $1,187,340.00. Following the completion of the sale, the chief executive officer now directly owns 102,679 shares in the company, valued at $60,957,441.93. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.32% of the company’s stock.

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.