Texas Permanent School Fund lessened its holdings in shares of Chemed Co. (NYSE:CHE) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,792 shares of the company’s stock after selling 883 shares during the quarter. Texas Permanent School Fund’s holdings in Chemed were worth $2,623,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Palo Capital Inc. lifted its holdings in shares of Chemed by 12.7% during the fourth quarter. Palo Capital Inc. now owns 10,442 shares of the company’s stock worth $2,538,000 after purchasing an additional 1,174 shares during the period. Charter Trust Co. acquired a new position in shares of Chemed during the fourth quarter worth $282,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Chemed by 1.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 109,134 shares of the company’s stock worth $26,522,000 after purchasing an additional 1,717 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Chemed by 6.2% during the fourth quarter. Louisiana State Employees Retirement System now owns 6,900 shares of the company’s stock worth $1,677,000 after purchasing an additional 400 shares during the period. Finally, Hutchens Investment Management Inc acquired a new position in shares of Chemed during the fourth quarter worth $303,000. Institutional investors own 97.66% of the company’s stock.
In related news, insider Nicholas Michael Westfall sold 10,000 shares of Chemed stock in a transaction on Monday, November 13th. The shares were sold at an average price of $231.00, for a total transaction of $2,310,000.00. Following the completion of the transaction, the insider now owns 13,351 shares of the company’s stock, valued at $3,084,081. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Naomi C. Dallob sold 1,900 shares of Chemed stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $231.00, for a total transaction of $438,900.00. Following the transaction, the vice president now directly owns 10,426 shares of the company’s stock, valued at approximately $2,408,406. The disclosure for this sale can be found here. Insiders have sold 33,429 shares of company stock valued at $7,885,866 in the last three months. 4.90% of the stock is owned by insiders.
A number of brokerages have recently commented on CHE. ValuEngine lowered shares of Chemed from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of Chemed from a “hold” rating to a “buy” rating and set a $251.00 price target on the stock in a report on Thursday, November 2nd. Royal Bank of Canada lifted their price target on shares of Chemed to $232.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 31st. TheStreet upgraded shares of Chemed from a “c+” rating to an “a-” rating in a report on Friday, October 27th. Finally, Oppenheimer lifted their price target on shares of Chemed from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Chemed currently has a consensus rating of “Hold” and a consensus price target of $236.00.
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Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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