Bank of America Corp DE grew its stake in Carriage Services, Inc. (NYSE:CSV) by 38.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,075 shares of the company’s stock after buying an additional 46,264 shares during the period. Bank of America Corp DE owned 0.88% of Carriage Services worth $4,125,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of CSV. Millennium Management LLC raised its holdings in shares of Carriage Services by 1,199.3% in the first quarter. Millennium Management LLC now owns 168,576 shares of the company’s stock worth $4,663,000 after buying an additional 155,602 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Carriage Services by 13.3% in the second quarter. Renaissance Technologies LLC now owns 1,150,700 shares of the company’s stock worth $28,250,000 after buying an additional 134,800 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Carriage Services by 8.4% in the first quarter. BlackRock Inc. now owns 1,293,398 shares of the company’s stock worth $35,775,000 after buying an additional 100,187 shares during the last quarter. Martingale Asset Management L P purchased a new position in shares of Carriage Services in the second quarter worth $1,317,000. Finally, Global Alpha Capital Management Ltd. raised its holdings in shares of Carriage Services by 13.0% in the second quarter. Global Alpha Capital Management Ltd. now owns 315,993 shares of the company’s stock worth $7,758,000 after buying an additional 36,253 shares during the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.
NYSE:CSV opened at $19.06 on Thursday. The firm has a market capitalization of $367.16 million, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.43. Carriage Services, Inc. has a 1-year low of $18.54 and a 1-year high of $28.96. The company has a current ratio of 2.62, a quick ratio of 2.36 and a debt-to-equity ratio of 1.49.
Carriage Services (NYSE:CSV) last released its quarterly earnings data on Wednesday, August 1st. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.15). The business had revenue of $63.00 million during the quarter, compared to analyst estimates of $69.16 million. Carriage Services had a return on equity of 12.49% and a net margin of 14.40%. Research analysts predict that Carriage Services, Inc. will post 1.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 13th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, November 9th. This represents a $0.30 annualized dividend and a yield of 1.57%. Carriage Services’s dividend payout ratio is presently 21.58%.
CSV has been the topic of a number of research reports. Barrington Research reiterated a “buy” rating and issued a $32.00 price objective on shares of Carriage Services in a research note on Thursday, August 2nd. TheStreet lowered shares of Carriage Services from a “b-” rating to a “c+” rating in a research note on Thursday, August 30th. Finally, ValuEngine lowered shares of Carriage Services from a “hold” rating to a “sell” rating in a research note on Monday, August 13th.
In other news, insider Shawn R. Phillips sold 6,500 shares of Carriage Services stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $21.65, for a total value of $140,725.00. Following the sale, the insider now owns 106,946 shares in the company, valued at $2,315,380.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Donald Douglas Patteson, Jr. purchased 4,000 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was acquired at an average cost of $23.25 per share, for a total transaction of $93,000.00. Following the completion of the purchase, the director now owns 51,431 shares of the company’s stock, valued at approximately $1,195,770.75. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by company insiders.
Carriage Services Company Profile
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.
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