Tortoise Investment Management LLC Increases Holdings in Chemed Co. (NYSE:CHE)

Tortoise Investment Management LLC grew its stake in Chemed Co. (NYSE:CHE) by 77.3% during the 4th quarter, HoldingsChannel reports. The fund owned 78 shares of the company’s stock after purchasing an additional 34 shares during the quarter. Tortoise Investment Management LLC’s holdings in Chemed were worth $41,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Independent Advisor Alliance raised its position in shares of Chemed by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 2,279 shares of the company’s stock worth $1,207,000 after purchasing an additional 25 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Chemed by 36.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,406 shares of the company’s stock worth $1,804,000 after buying an additional 914 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in shares of Chemed by 11.2% in the fourth quarter. Personal CFO Solutions LLC now owns 618 shares of the company’s stock worth $328,000 after buying an additional 62 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Chemed during the fourth quarter valued at approximately $42,023,000. Finally, Aigen Investment Management LP increased its position in shares of Chemed by 300.4% during the fourth quarter. Aigen Investment Management LP now owns 2,002 shares of the company’s stock valued at $1,061,000 after acquiring an additional 1,502 shares in the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $593.67, for a total value of $1,187,340.00. Following the transaction, the chief executive officer now owns 102,679 shares of the company’s stock, valued at approximately $60,957,441.93. This represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian C. Judkins purchased 145 shares of the business’s stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $519.50 per share, with a total value of $75,327.50. Following the completion of the purchase, the vice president now owns 1,678 shares in the company, valued at approximately $871,721. This trade represents a 9.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.32% of the stock is owned by insiders.

Chemed Stock Performance

Shares of NYSE:CHE opened at $598.12 on Wednesday. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.15 and a beta of 0.43. The business has a 50-day simple moving average of $555.23 and a two-hundred day simple moving average of $564.08. Chemed Co. has a fifty-two week low of $512.12 and a fifty-two week high of $654.62.

Chemed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Chemed’s payout ratio is 10.05%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research note on Friday, March 7th.

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.