Intech Investment Management LLC Makes New Investment in Carriage Services, Inc. (NYSE:CSV)

Intech Investment Management LLC acquired a new stake in Carriage Services, Inc. (NYSE:CSV) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,513 shares of the company’s stock, valued at approximately $220,000.

Other hedge funds have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Carriage Services by 141.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,379 shares of the company’s stock worth $866,000 after purchasing an additional 15,433 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Carriage Services by 22.1% in the third quarter. Algert Global LLC now owns 13,904 shares of the company’s stock worth $456,000 after buying an additional 2,517 shares in the last quarter. FMR LLC boosted its position in shares of Carriage Services by 46.6% during the third quarter. FMR LLC now owns 852 shares of the company’s stock worth $28,000 after acquiring an additional 271 shares during the last quarter. Verition Fund Management LLC purchased a new position in Carriage Services during the third quarter valued at $204,000. Finally, Praetorian PR LLC increased its holdings in Carriage Services by 15.2% in the 3rd quarter. Praetorian PR LLC now owns 80,000 shares of the company’s stock valued at $2,626,000 after acquiring an additional 10,578 shares during the last quarter. Institutional investors own 66.46% of the company’s stock.

Carriage Services Price Performance

CSV stock opened at $38.58 on Thursday. Carriage Services, Inc. has a 52 week low of $23.20 and a 52 week high of $42.75. The firm has a market capitalization of $603.76 million, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. The company has a fifty day simple moving average of $39.87 and a two-hundred day simple moving average of $37.71. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 2.03.

Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.11. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The firm had revenue of $97.70 million during the quarter, compared to the consensus estimate of $96.72 million. During the same quarter last year, the firm earned $0.77 EPS. 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 3rd were issued a dividend of $0.1125 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.45 annualized dividend and a yield of 1.17%. Carriage Services’s payout ratio is presently 21.43%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barrington Research reissued an “outperform” rating and set a $50.00 price objective on shares of Carriage Services in a report on Friday, February 28th. StockNews.com cut Carriage Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th.

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.