KLP Kapitalforvaltning AS Invests $2.01 Million in Chemed Co. (NYSE:CHE)

KLP Kapitalforvaltning AS purchased a new stake in Chemed Co. (NYSE:CHE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,800 shares of the company’s stock, valued at approximately $2,013,000.

A number of other institutional investors have also recently made changes to their positions in the business. UMB Bank n.a. raised its position in Chemed by 300.0% during the fourth quarter. UMB Bank n.a. now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 39 shares during the period. Atala Financial Inc bought a new position in shares of Chemed during the 4th quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC raised its holdings in Chemed by 64.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock valued at $30,000 after buying an additional 22 shares during the period. Trust Co. of Vermont purchased a new stake in Chemed during the 4th quarter valued at $34,000. Finally, Tortoise Investment Management LLC boosted its stake 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 buying an additional 34 shares during the period. Institutional investors own 95.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Chemed from $633.00 to $667.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a research report on Friday, March 7th.

Chemed Stock Performance

Shares of CHE stock opened at $612.09 on Friday. The stock has a 50 day moving average price of $573.14 and a 200 day moving average price of $566.47. The firm has a market capitalization of $8.96 billion, a P/E ratio of 30.93, a P/E/G 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 $646.71.

Chemed Dividend Announcement

The business also recently announced 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, February 24th. Chemed’s dividend payout ratio is currently 10.05%.

Insider Transactions at Chemed

In other news, VP Brian C. Judkins purchased 145 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $519.50 per share, for a total transaction of $75,327.50. Following the completion of the acquisition, the vice president now owns 1,678 shares of the company’s stock, valued at approximately $871,721. This trade represents a 9.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $60,957,441.93. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.