Bright Rock Capital Management LLC Purchases Shares of 2,000 Chemed Co. (NYSE:CHE)

Bright Rock Capital Management LLC acquired a new position in Chemed Co. (NYSE:CHEFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,000 shares of the company’s stock, valued at approximately $1,060,000.

Several other hedge funds have also modified their holdings of CHE. EP Wealth Advisors LLC increased its stake in Chemed by 1.9% during the third quarter. EP Wealth Advisors LLC now owns 1,354 shares of the company’s stock worth $814,000 after acquiring an additional 25 shares during the last quarter. Ballentine Partners LLC raised its holdings in Chemed by 4.1% during the 3rd quarter. Ballentine Partners LLC now owns 655 shares of the company’s stock valued at $394,000 after buying an additional 26 shares during the period. Creative Planning lifted its position in Chemed by 2.8% in the second quarter. Creative Planning now owns 1,228 shares of the company’s stock worth $667,000 after buying an additional 34 shares during the last quarter. First Heartland Consultants Inc. boosted its stake in Chemed by 7.2% during the third quarter. First Heartland Consultants Inc. now owns 508 shares of the company’s stock worth $305,000 after buying an additional 34 shares during the period. Finally, First Trust Direct Indexing L.P. increased its position in Chemed by 4.5% during the third quarter. First Trust Direct Indexing L.P. now owns 887 shares of the company’s stock valued at $533,000 after acquiring an additional 38 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CHE. Royal Bank of Canada dropped their price target on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th.

Read Our Latest Report on CHE

Insider Buying and Selling at Chemed

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $572.77, for a total transaction of $1,145,540.00. Following the sale, the chief executive officer now owns 101,735 shares of the company’s stock, valued at $58,270,755.95. This trade represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Spencer S. Lee sold 732 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $575.62, for a total transaction of $421,353.84. Following the completion of the transaction, the executive vice president now owns 18,287 shares of the company’s stock, valued at $10,526,362.94. This represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.32% of the company’s stock.

Chemed Trading Up 0.7 %

NYSE:CHE opened at $534.04 on Wednesday. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 2.32 and a beta of 0.47. Chemed Co. has a twelve month low of $512.12 and a twelve month high of $654.62. The stock has a fifty day simple moving average of $545.46 and a 200-day simple moving average of $562.56.

Chemed (NYSE:CHEGet Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing analysts’ consensus estimates of $5.76 by ($0.12). Chemed had a net margin of 12.69% and a return on equity of 27.86%. The business had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. During the same period last year, the business posted $5.32 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts predict that Chemed Co. will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 0.37%. Chemed’s dividend payout ratio (DPR) is presently 10.11%.

About Chemed

(Free Report)

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.

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Institutional Ownership by Quarter for Chemed (NYSE:CHE)

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