Vanguard Group Inc. Raises Position in Carriage Services, Inc. (CSV)

Vanguard Group Inc. increased its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 605,013 shares of the company’s stock after buying an additional 38,056 shares during the period. Vanguard Group Inc. owned approximately 3.62% of Carriage Services worth $16,407,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Carriage Services by 0.8% in the first 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. Karp Capital Management Corp bought a new position in Carriage Services during the first quarter valued at approximately $245,000. American International Group Inc. increased its position in Carriage Services by 7.1% in the first quarter. American International Group Inc. now owns 9,107 shares of the company’s stock valued at $247,000 after buying an additional 606 shares during the period. Virginia Retirement Systems ET AL increased its position in Carriage Services by 12.0% in the first quarter. Virginia Retirement Systems ET AL now owns 11,200 shares of the company’s stock valued at $304,000 after buying an additional 1,200 shares during the period. Finally, Eqis Capital Management Inc. increased its position in Carriage Services by 6.4% in the first quarter. Eqis Capital Management Inc. now owns 21,103 shares of the company’s stock valued at $572,000 after buying an additional 1,277 shares during the period. 86.93% of the stock is owned by institutional investors and hedge funds.

Carriage Services, Inc. (CSV) traded up 0.21% on Friday, hitting $24.39. 99,529 shares of the company’s stock traded hands. Carriage Services, Inc. has a one year low of $22.53 and a one year high of $29.11. The stock has a market cap of $407.80 million, a PE ratio of 20.65 and a beta of 0.92. The stock has a 50-day moving average of $25.22 and a 200-day moving average of $26.37.

Carriage Services (NYSE:CSV) last posted its earnings results on Wednesday, July 26th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.10. Carriage Services had a net margin of 8.35% and a return on equity of 15.25%. The business had revenue of $63.87 million for the quarter, compared to analysts’ expectations of $64.35 million. During the same quarter last year, the business posted $0.37 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts forecast that Carriage Services, Inc. will post $1.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.20 annualized dividend and a yield of 0.82%. Carriage Services’s dividend payout ratio (DPR) is currently 16.95%.

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CSV has been the subject of several research reports. Jefferies Group LLC reissued a “hold” rating and set a $82.00 price objective on shares of Carriage Services in a report on Monday, June 12th. Zacks Investment Research raised shares of Carriage Services from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Finally, 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 the firm’s stock in a transaction dated 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 in the company, valued at approximately $26,992,309.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.40% of the company’s stock.

Carriage Services Company 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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