Chemed Corporation $CHE Stock Position Cut by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its stake in shares of Chemed Corporation (NYSE:CHE - Free Report) by 50.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,078 shares of the company's stock after selling 2,143 shares during the period. NewEdge Wealth LLC's holdings in Chemed were worth $785,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHE. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Chemed by 2,444,879.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,550,103 shares of the company's stock valued at $2,374,667,000 after acquiring an additional 5,549,876 shares in the last quarter. Norges Bank bought a new stake in Chemed during the fourth quarter worth approximately $76,067,000. AQR Capital Management LLC lifted its position in Chemed by 89.2% in the fourth quarter. AQR Capital Management LLC now owns 325,579 shares of the company's stock worth $139,302,000 after purchasing an additional 153,469 shares during the period. Victory Capital Management Inc. lifted its position in Chemed by 1,260.2% in the fourth quarter. Victory Capital Management Inc. now owns 117,685 shares of the company's stock worth $50,353,000 after purchasing an additional 109,033 shares during the period. Finally, M&T Bank Corp boosted its stake in Chemed by 10,291.1% during the 4th quarter. M&T Bank Corp now owns 85,934 shares of the company's stock valued at $36,768,000 after purchasing an additional 85,107 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors.

Chemed Trading Down 0.6%

Chemed stock opened at $508.30 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.85. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 1.88 and a beta of 0.52. Chemed Corporation has a 1 year low of $365.20 and a 1 year high of $517.74. The firm's 50 day moving average price is $459.92 and its two-hundred day moving average price is $434.09.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Thursday, May 28th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. Chemed's dividend payout ratio (DPR) is currently 13.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CHE. Bank of America lifted their price target on Chemed from $450.00 to $510.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Wall Street Zen cut Chemed from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. Weiss Ratings raised Chemed from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 17th. Royal Bank Of Canada lifted their target price on Chemed from $422.00 to $436.00 and gave the stock a "sector perform" rating in a report on Monday, April 27th. Finally, Zacks Research upgraded shares of Chemed from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Chemed has a consensus rating of "Hold" and a consensus target price of $480.25.

Insiders Place Their Bets

In related news, Director Andrea R. Lindell sold 1,347 shares of Chemed stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $447.33, for a total value of $602,553.51. Following the transaction, the director directly owned 4,578 shares in the company, valued at $2,047,876.74. The trade was a 22.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $421.13, for a total value of $842,260.00. Following the sale, the chief executive officer directly owned 90,219 shares in the company, valued at $37,993,927.47. This trade represents a 2.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.33% of the company's stock.

Chemed Profile

Chemed Corporation is a diversified provider of essential home services and healthcare solutions in the United States. Headquartered in Cincinnati, Ohio, the company operates through two principal business segments—Roto-Rooter and Vitas Healthcare. Since its founding in 1974, Chemed has built a reputation for reliability and expertise, serving both residential and commercial customers across a broad range of markets.

The Roto-Rooter segment offers a comprehensive suite of plumbing, drain cleaning and water restoration services.

Want to see what other hedge funds are holding CHE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chemed Corporation (NYSE:CHE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.