Fmr LLC Acquires 271 Shares of Carriage Services, Inc. (NYSE:CSV)

Fmr LLC increased its holdings in shares of Carriage Services, Inc. (NYSE:CSV) by 46.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 852 shares of the company’s stock after acquiring an additional 271 shares during the period. Fmr LLC’s holdings in Carriage Services were worth $28,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CSV. Renaissance Technologies LLC grew its position in shares of Carriage Services by 8.2% during the 2nd quarter. Renaissance Technologies LLC now owns 616,500 shares of the company’s stock worth $16,547,000 after buying an additional 46,700 shares during the period. Deerfield Management Company L.P. Series C boosted its stake in Carriage Services by 198.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 53,584 shares of the company’s stock worth $1,438,000 after acquiring an additional 35,605 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Carriage Services in the third quarter worth $4,310,000. Kingsview Wealth Management LLC bought a new stake in Carriage Services in the third quarter valued at $2,151,000. Finally, AXA S.A. acquired a new position in shares of Carriage Services during the second quarter valued at about $932,000. 66.46% of the stock is currently owned by institutional investors.

Carriage Services Price Performance

Shares of CSV opened at $40.32 on Thursday. The business’s fifty day moving average is $38.12 and its 200 day moving average is $33.11. Carriage Services, Inc. has a 12-month low of $22.84 and a 12-month high of $42.13. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 2.03. The stock has a market cap of $613.79 million, a P/E ratio of 18.08, a P/E/G ratio of 1.07 and a beta of 0.93.

Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.19. The firm had revenue of $100.69 million during the quarter, compared to analysts’ expectations of $93.49 million. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. During the same period last year, the company earned $0.33 earnings per share. Sell-side analysts anticipate that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Monday, November 4th. Carriage Services’s dividend payout ratio is currently 20.18%.

Analyst Upgrades and Downgrades

Separately, Barrington Research raised their target price on Carriage Services from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st.

Insider Transactions at Carriage Services

In related news, VP Paul Donald Elliott sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $37.78, for a total transaction of $188,900.00. Following the transaction, the vice president now directly owns 34,166 shares of the company’s stock, valued at $1,290,791.48. This trade represents a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.30% of the company’s stock.

Carriage Services Company 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.