Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Chemed Co. (NYSE:CHE)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Chemed Co. (NYSE:CHE) by 64.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,242 shares of the company’s stock after selling 4,140 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Chemed were worth $1,188,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in Chemed by 300.0% during 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 during the period. Trust Co. of Vermont bought a new stake in Chemed during the fourth quarter valued at $34,000. Tortoise Investment Management LLC lifted its stake in Chemed by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company’s stock worth $41,000 after purchasing an additional 34 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Chemed by 39.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 135 shares of the company’s stock worth $72,000 after purchasing an additional 38 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in Chemed by 2,057.1% during the fourth quarter. Allworth Financial LP now owns 151 shares of the company’s stock worth $83,000 after purchasing an additional 144 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHE has been the subject of several research analyst reports. Royal Bank of Canada lifted their price target on Chemed from $633.00 to $667.00 and gave the stock 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

Shares of NYSE:CHE opened at $601.83 on Friday. Chemed Co. has a 1 year low of $512.12 and a 1 year high of $648.75. The company has a market cap of $8.81 billion, a PE ratio of 30.41, a P/E/G ratio of 2.15 and a beta of 0.43. The stock’s 50-day moving average is $566.29 and its 200 day moving average is $565.60.

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were issued a dividend of $0.50 per share. The ex-dividend date 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 (DPR) is 10.05%.

Insiders Place Their Bets

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 102,679 shares of the company’s stock, valued at $60,957,441.93. The trade was a 1.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 stock was bought at an average cost of $519.50 per share, for a total transaction of $75,327.50. Following the completion of the transaction, the vice president now owns 1,678 shares in the company, valued at approximately $871,721. This represents a 9.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.32% of the company’s stock.

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.