Essex Investment Management Co. LLC increased its stake in Carriage Services Inc. (NYSE:CSV) by 10.4% during the second quarter, Holdings Channel reports. The institutional investor owned 110,880 shares of the company’s stock after buying an additional 10,476 shares during the period. Essex Investment Management Co. LLC’s holdings in Carriage Services were worth $2,626,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in CSV. 1st Global Advisors Inc. increased its stake in Carriage Services by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 12,164 shares of the company’s stock valued at $288,000 after buying an additional 73 shares in the last quarter. Eqis Capital Management Inc. increased its stake in Carriage Services by 3.6% in the second quarter. Eqis Capital Management Inc. now owns 14,479 shares of the company’s stock valued at $343,000 after buying an additional 506 shares in the last quarter. LPL Financial LLC increased its stake in Carriage Services by 9.3% in the first quarter. LPL Financial LLC now owns 44,696 shares of the company’s stock valued at $968,000 after buying an additional 3,820 shares in the last quarter. Boothbay Fund Management LLC increased its stake in Carriage Services by 36.4% in the first quarter. Boothbay Fund Management LLC now owns 17,445 shares of the company’s stock valued at $377,000 after buying an additional 4,655 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Carriage Services by 4.9% in the first quarter. Geode Capital Management LLC now owns 106,023 shares of the company’s stock valued at $2,291,000 after buying an additional 4,932 shares in the last quarter. 77.51% of the stock is currently owned by institutional investors.
Shares of Carriage Services Inc. (NYSE:CSV) traded down 0.63% during mid-day trading on Thursday, reaching $23.60. 42,620 shares of the company’s stock traded hands. Carriage Services Inc. has a one year low of $19.03 and a one year high of $25.96. The firm’s 50-day moving average is $23.51 and its 200 day moving average is $23.12. The firm has a market cap of $392.75 million, a price-to-earnings ratio of 21.09 and a beta of 0.76.
Carriage Services (NYSE:CSV) last released its earnings results on Tuesday, July 26th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.02. Carriage Services had a net margin of 8.01% and a return on equity of 16.56%. The business earned $61.87 million during the quarter, compared to analyst estimates of $61.34 million. During the same period last year, the business posted $0.34 EPS. Carriage Services’s revenue was up 4.4% compared to the same quarter last year. Analysts predict that Carriage Services Inc. will post $1.70 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th were issued a $0.05 dividend. The ex-dividend date was Friday, August 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.85%. This is an increase from Carriage Services’s previous quarterly dividend of $0.03. Carriage Services’s dividend payout ratio (DPR) is 17.86%.
Several research firms have weighed in on CSV. Barrington Research boosted their target price on shares of Carriage Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 22nd. Zacks Investment Research downgraded shares of Carriage Services from a “hold” rating to a “sell” rating in a research report on Friday, July 29th.
About Carriage Services
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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