Norges Bank Takes $95.87 Million Position in Chemed Co. (NYSE:CHE)

Norges Bank acquired a new position in shares of Chemed Co. (NYSE:CHE) in the 4th quarter, Holdings Channel.com reports. The fund acquired 180,958 shares of the company’s stock, valued at approximately $95,872,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in shares of Chemed in the fourth quarter worth $42,023,000. HighTower Advisors LLC increased its position in Chemed by 78.0% during the 3rd quarter. HighTower Advisors LLC now owns 3,730 shares of the company’s stock worth $2,246,000 after purchasing an additional 1,634 shares in the last quarter. XTX Topco Ltd raised its stake in Chemed by 111.5% in the 3rd quarter. XTX Topco Ltd now owns 2,843 shares of the company’s stock valued at $1,709,000 after purchasing an additional 1,499 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Chemed by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock worth $201,820,000 after purchasing an additional 15,791 shares during the last quarter. Finally, Signal Advisors Wealth LLC boosted its stake in shares of Chemed by 60.7% during the 4th quarter. Signal Advisors Wealth LLC now owns 4,995 shares of the company’s stock worth $2,647,000 after purchasing an additional 1,886 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective 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 Chemed from a “hold” rating to a “buy” rating in a research note on Friday, March 7th.

Chemed Price Performance

NYSE CHE opened at $618.14 on Wednesday. The company has a market cap of $9.05 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.15 and a beta of 0.43. Chemed Co. has a 12 month low of $512.12 and a 12 month high of $639.61. The company has a 50-day moving average of $576.54 and a 200-day moving average of $567.29.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 yield of 0.32%. The ex-dividend date of this dividend was Monday, February 24th. Chemed’s dividend payout ratio is currently 10.05%.

Insider Buying and Selling at Chemed

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed 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 approximately $60,957,441.93. This trade represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.32% of the stock is owned by company insiders.

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.