Penobscot Investment Management Company Inc. Has $352,000 Position in Chemed Co. (NYSE:CHE)

Penobscot Investment Management Company Inc. cut its holdings in Chemed Co. (NYSE:CHE) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 665 shares of the company’s stock after selling 50 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Chemed were worth $352,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CHE. Segall Bryant & Hamill LLC bought a new position in shares of Chemed in the fourth quarter worth about $12,880,000. KLP Kapitalforvaltning AS bought a new position in Chemed in the 4th quarter worth approximately $2,013,000. American Century Companies Inc. lifted its holdings in Chemed by 1.4% during the 4th quarter. American Century Companies Inc. now owns 3,977 shares of the company’s stock worth $2,107,000 after buying an additional 54 shares in the last quarter. Virtu Financial LLC bought a new position in Chemed in the 4th quarter valued at $515,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Chemed in the 4th quarter valued at $460,000. 95.85% of the stock is owned by institutional investors.

Insider Activity at Chemed

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

Analyst Upgrades and Downgrades

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

Chemed Trading Up 0.0 %

NYSE CHE opened at $609.34 on Thursday. Chemed Co. has a 12 month low of $512.12 and a 12 month high of $646.71. The stock has a 50-day simple moving average of $572.01 and a 200 day simple moving average of $566.15. The company has a market capitalization of $8.92 billion, a PE ratio of 30.79, a P/E/G ratio of 2.15 and a beta of 0.43.

Chemed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Chemed’s dividend payout ratio is 10.05%.

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.