Algert Global LLC Cuts Stake in Carriage Services, Inc. (NYSE:CSV)

Algert Global LLC lowered its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 12.9% in the fourth quarter, Holdings Channel reports. The firm owned 12,114 shares of the company’s stock after selling 1,790 shares during the period. Algert Global LLC’s holdings in Carriage Services were worth $483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Carriage Services during the fourth quarter worth about $45,000. R Squared Ltd purchased a new stake in shares of Carriage Services during the fourth quarter worth about $65,000. Quantbot Technologies LP grew its stake in Carriage Services by 217.3% during the 4th quarter. Quantbot Technologies LP now owns 4,982 shares of the company’s stock valued at $199,000 after acquiring an additional 3,412 shares in the last quarter. Polymer Capital Management US LLC purchased a new stake in Carriage Services during the 4th quarter valued at about $202,000. Finally, Intech Investment Management LLC purchased a new stake in Carriage Services during the 4th quarter valued at about $220,000. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Carriage Services Stock Up 1.2%

Shares of NYSE CSV opened at $41.46 on Monday. Carriage Services, Inc. has a 12-month low of $25.84 and a 12-month high of $42.75. The stock has a market cap of $648.85 million, a PE ratio of 18.59, a P/E/G ratio of 0.97 and a beta of 0.93. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average of $38.73 and a 200 day moving average of $39.33.

Carriage Services (NYSE:CSV) last posted its earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.16. The company had revenue of $8.47 million for the quarter, compared to analyst estimates of $104.17 million. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. As a group, sell-side analysts predict that Carriage Services, Inc. will post 2.5 EPS for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be issued a $0.1125 dividend. The ex-dividend date is Monday, May 5th. This represents a $0.45 annualized dividend and a yield of 1.09%. Carriage Services’s payout ratio is 15.05%.

Insider Buying and Selling at Carriage Services

In other Carriage Services news, President Steven D. Metzger sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $40.60, for a total value of $121,800.00. Following the transaction, the president now directly owns 75,897 shares in the company, valued at $3,081,418.20. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 9,000 shares of company stock worth $362,141 in the last ninety days. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and set a $51.00 price objective (up previously from $48.00) on shares of Carriage Services in a research note on Friday, May 2nd. StockNews.com raised shares of Carriage Services from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Barrington Research reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Carriage Services in a research note on Thursday, May 1st.

About Carriage Services

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.