Carriage Services, Inc. $CSV Shares Sold by Mendel Money Management

Mendel Money Management lowered its holdings in shares of Carriage Services, Inc. (NYSE:CSV) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,359 shares of the company’s stock after selling 4,290 shares during the quarter. Mendel Money Management’s holdings in Carriage Services were worth $2,395,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CSV. Allspring Global Investments Holdings LLC boosted its position in Carriage Services by 12.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 168,079 shares of the company’s stock worth $6,513,000 after purchasing an additional 18,130 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Carriage Services during the first quarter worth approximately $48,000. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Carriage Services by 42.7% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 81,365 shares of the company’s stock worth $3,153,000 after acquiring an additional 24,345 shares during the period. Linden Thomas Advisory Services LLC raised its position in Carriage Services by 12.0% during the first quarter. Linden Thomas Advisory Services LLC now owns 30,646 shares of the company’s stock worth $1,188,000 after acquiring an additional 3,289 shares during the period. Finally, MQS Management LLC acquired a new position in Carriage Services during the first quarter worth $621,000. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Insiders Place Their Bets

In other Carriage Services news, VP Shane Pudenz sold 13,027 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total value of $577,877.72. Following the transaction, the vice president directly owned 14,930 shares of the company’s stock, valued at $662,294.80. This trade represents a 46.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CSV. Weiss Ratings restated a “buy (b-)” rating on shares of Carriage Services in a research report on Wednesday, October 8th. Zacks Research cut shares of Carriage Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Raymond James Financial started coverage on Carriage Services in a research note on Wednesday, October 1st. They set an “outperform” rating and a $60.00 price objective for the company. Barrington Research reiterated an “outperform” rating and set a $60.00 price objective on shares of Carriage Services in a research note on Thursday, October 23rd. Finally, B. Riley reiterated a “buy” rating and set a $65.00 price objective (up from $52.00) on shares of Carriage Services in a research note on Friday, August 8th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.00.

Carriage Services Trading Down 1.7%

Shares of CSV opened at $45.02 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.72. The firm’s fifty day moving average is $44.47 and its two-hundred day moving average is $44.08. Carriage Services, Inc. has a 52-week low of $32.31 and a 52-week high of $49.41. The stock has a market cap of $706.78 million, a PE ratio of 13.52, a price-to-earnings-growth ratio of 0.93 and a beta of 0.86.

Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, August 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. Carriage Services had a net margin of 12.85% and a return on equity of 21.63%. The business had revenue of $102.15 million for the quarter, compared to analyst estimates of $101.36 million. Research analysts forecast that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 3rd will be paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, November 3rd. Carriage Services’s dividend payout ratio (DPR) is 13.51%.

Carriage Services Profile

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.