PNC Financial Services Group Inc. continued to hold its stake in shares of Carriage Services, Inc. (NYSE:CSV) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,100 shares of the company’s stock at the end of the 2nd quarter. PNC Financial Services Group Inc. owned approximately 0.15% of Carriage Services worth $677,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc grew its stake in shares of Carriage Services by 0.8% in the 1st quarter. Legal & General Group Plc now owns 4,044 shares of the company’s stock valued at $110,000 after buying an additional 31 shares during the period. Baker Ellis Asset Management LLC grew its stake in shares of Carriage Services by 2.5% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 6,150 shares of the company’s stock valued at $166,000 after buying an additional 150 shares during the period. Falcon Point Capital LLC grew its stake in shares of Carriage Services by 0.4% in the 2nd quarter. Falcon Point Capital LLC now owns 72,073 shares of the company’s stock valued at $1,943,000 after buying an additional 304 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Carriage Services by 0.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 155,143 shares of the company’s stock valued at $4,183,000 after buying an additional 388 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Carriage Services by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,483 shares of the company’s stock valued at $1,550,000 after buying an additional 489 shares during the period. Institutional investors own 86.58% of the company’s stock.
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In other Carriage Services news, CEO Melvin C. Payne sold 100,000 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $23.85, for a total value of $2,385,000.00. Following the sale, the chief executive officer now owns 1,131,753 shares in the company, valued at $26,992,309.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.40% of the stock is currently owned by corporate insiders.
Several brokerages have recently commented on CSV. Zacks Investment Research upgraded Carriage Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub downgraded Carriage Services from a “hold” rating to a “sell” rating in a research note on Friday, July 28th.
Carriage Services (NYSE:CSV) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.10). Carriage Services had a return on equity of 15.25% and a net margin of 8.35%. The company had revenue of $63.87 million during the quarter, compared to the consensus estimate of $64.35 million. Carriage Services’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share.
Carriage Services Profile
Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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