Carriage Services, Inc. (NYSE:CSV) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 13.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 75,199 shares of the company’s stock after selling 12,188 shares during the quarter. BNP Paribas Financial Markets’ holdings in Carriage Services were worth $2,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in Carriage Services by 201.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock worth $6,166,000 after buying an additional 153,538 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Carriage Services during the third quarter worth about $4,310,000. Kingsview Wealth Management LLC purchased a new position in Carriage Services during the third quarter worth about $2,151,000. Renaissance Technologies LLC lifted its position in Carriage Services by 8.2% in the second quarter. Renaissance Technologies LLC now owns 616,500 shares of the company’s stock valued at $16,547,000 after purchasing an additional 46,700 shares during the period. Finally, Deerfield Management Company L.P. Series C boosted its holdings in Carriage Services by 198.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 53,584 shares of the company’s stock valued at $1,438,000 after purchasing an additional 35,605 shares in the last quarter. 66.46% of the stock is owned by institutional investors and hedge funds.

Carriage Services Stock Performance

NYSE:CSV opened at $39.76 on Friday. The firm’s fifty day simple moving average is $35.82 and its 200-day simple moving average is $31.88. 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 $605.15 million, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.08 and a beta of 0.93. Carriage Services, Inc. has a fifty-two week low of $22.84 and a fifty-two week high of $40.91.

Carriage Services (NYSE:CSV) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.19. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The company had revenue of $100.69 million for the quarter, compared to analyst estimates of $93.49 million. During the same period in the prior year, the business posted $0.33 earnings per share. Analysts expect that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were issued a dividend of $0.1125 per share. The ex-dividend date was Monday, November 4th. This represents a $0.45 annualized dividend and a yield of 1.13%. Carriage Services’s dividend payout ratio is presently 20.18%.

Insiders Place Their Bets

In other news, VP Paul Donald Elliott sold 5,000 shares of Carriage Services stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total transaction of $188,900.00. Following the completion of the transaction, the vice president now owns 34,166 shares of the company’s stock, valued at $1,290,791.48. The trade was a 12.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 12.10% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.