Alliancebernstein L.P. acquired a new position in shares of Carriage Services, Inc. (NYSE:CSV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,500 shares of the company’s stock, valued at approximately $229,000. Alliancebernstein L.P. owned about 0.05% of Carriage Services at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in CSV. Falcon Point Capital LLC lifted its stake in Carriage Services by 0.4% in the second 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Carriage Services by 4.5% in the first quarter. Geode Capital Management LLC now owns 115,191 shares of the company’s stock valued at $3,123,000 after purchasing an additional 4,936 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Carriage Services by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 56,994 shares of the company’s stock valued at $1,546,000 after purchasing an additional 3,243 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Carriage Services by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,398,573 shares of the company’s stock valued at $37,929,000 after purchasing an additional 5,479 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Carriage Services by 6.7% in the first quarter. Vanguard Group Inc. now owns 605,013 shares of the company’s stock valued at $16,407,000 after purchasing an additional 38,056 shares during the last quarter. 90.62% of the stock is currently owned by institutional investors and hedge funds.
Carriage Services, Inc. (NYSE CSV) opened at $24.89 on Monday. The firm has a market cap of $400.38, a price-to-earnings ratio of 18.30, a P/E/G ratio of 1.19 and a beta of 0.96. Carriage Services, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $29.11. The company has a current ratio of 0.70, a quick ratio of 0.54 and a debt-to-equity ratio of 1.86.
Carriage Services (NYSE:CSV) last issued its earnings results on Wednesday, October 25th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.12). The firm had revenue of $61.10 million for the quarter, compared to analyst estimates of $62.86 million. Carriage Services had a return on equity of 13.54% and a net margin of 7.29%. Carriage Services’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. analysts anticipate that Carriage Services, Inc. will post 1.39 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.21%. This is an increase from Carriage Services’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, November 10th. Carriage Services’s payout ratio is presently 19.61%.
Carriage Services announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 25th that allows the company to repurchase $15.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
CSV has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Carriage Services from a “hold” rating to a “strong sell” rating in a report on Monday, July 31st. BidaskClub downgraded shares of Carriage Services from a “hold” rating to a “sell” rating in a report on Friday, July 28th.
In other Carriage Services news, CEO Melvin C. Payne sold 100,000 shares of Carriage Services stock in a transaction on Friday, August 18th. The shares were sold at an average price of $23.85, for a total transaction of $2,385,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,131,753 shares of the company’s stock, valued at $26,992,309.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Raymond Schenck bought 1,000 shares of Carriage Services stock in a transaction dated Tuesday, October 31st. The stock was acquired at an average cost of $25.52 per share, with a total value of $25,520.00. Following the transaction, the director now owns 5,061 shares of the company’s stock, valued at approximately $129,156.72. The disclosure for this purchase can be found here. Insiders own 13.40% of the company’s stock.
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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