Penobscot Investment Management Company Inc. Sells 50 Shares of Chemed Co. (NYSE:CHE)

Penobscot Investment Management Company Inc. reduced its holdings in Chemed Co. (NYSE:CHE) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 665 shares of the company’s stock after selling 50 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Chemed were worth $352,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. grew 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 worth $28,000 after acquiring an additional 39 shares during the last quarter. Atala Financial Inc acquired a new stake in Chemed in the 4th quarter worth $29,000. CBIZ Investment Advisory Services LLC increased its holdings 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 acquired a new position in shares of Chemed during the fourth 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 buying an additional 34 shares during the period. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Chemed Stock Performance

Shares of Chemed stock opened at $609.34 on Thursday. The firm has a market cap of $8.92 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 2.15 and a beta of 0.43. The firm’s 50-day simple moving average is $572.01 and its 200-day simple moving average is $566.15. Chemed Co. has a twelve month low of $512.12 and a twelve month high of $646.71.

Chemed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were paid 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 currently 10.05%.

Insider Transactions at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $593.67, for a total value of $1,187,340.00. Following the sale, the chief executive officer now owns 102,679 shares of the company’s stock, valued at approximately $60,957,441.93. This represents a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian C. Judkins purchased 145 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $519.50 per share, with a total value of $75,327.50. Following the completion of the acquisition, the vice president now directly owns 1,678 shares in the company, valued at $871,721. The trade was a 9.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.32% of the stock is currently owned by insiders.

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.