Massachusetts Financial Services Co. MA Cuts Stock Holdings in Chemed Co. (NYSE:CHE)

Massachusetts Financial Services Co. MA lessened its holdings in Chemed Co. (NYSE:CHE) by 46.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 107,859 shares of the company’s stock after selling 92,827 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Chemed were worth $57,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHE. UMB Bank n.a. boosted its stake in shares of Chemed by 300.0% in the fourth quarter. UMB Bank n.a. now owns 52 shares of the company’s stock valued at $28,000 after buying an additional 39 shares in the last quarter. Atala Financial Inc purchased a new stake in shares of Chemed during the 4th quarter worth $29,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Chemed by 64.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock worth $30,000 after purchasing an additional 22 shares during the period. Trust Co. of Vermont purchased a new position in shares of Chemed in the 4th quarter valued at about $34,000. Finally, Tortoise Investment Management LLC lifted its stake in shares of Chemed by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company’s stock valued at $41,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.

Chemed Stock Down 3.4 %

Chemed stock opened at $598.17 on Friday. The firm’s 50-day simple moving average is $580.24 and its 200 day simple moving average is $568.04. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $632.22. The firm has a market capitalization of $8.76 billion, a PE ratio of 30.23, a P/E/G ratio of 2.15 and a beta of 0.49.

Chemed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 annualized dividend and a dividend yield of 0.33%. Chemed’s dividend payout ratio is presently 10.05%.

Analysts Set New Price Targets

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

Insider Transactions at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 1,000 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $615.33, for a total transaction of $615,330.00. Following the completion of the transaction, the chief executive officer now owns 101,679 shares of the company’s stock, valued at approximately $62,566,139.07. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.32% of the company’s stock.

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.