Falcon Point Capital LLC increased its stake in Carriage Services Inc. (NYSE:CSV) by 12.5% during the second quarter, Holdings Channel reports. The institutional investor owned 84,242 shares of the company’s stock after buying an additional 9,357 shares during the period. Falcon Point Capital LLC owned about 0.51% of Carriage Services worth $1,995,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in CSV. Capital Planning Advisors LLC bought a new stake in shares of Carriage Services during the second quarter valued at approximately $215,000. 1st Global Advisors Inc. raised its stake in shares of 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. Adirondack Research & Management Inc. bought a new stake in shares of Carriage Services during the first quarter valued at approximately $330,000. Eqis Capital Management Inc. raised its stake in shares of 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. Finally, Boothbay Fund Management LLC raised its stake in shares of 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. 77.51% of the stock is currently owned by institutional investors and hedge funds.
Carriage Services Inc. (NYSE:CSV) traded down 0.21% during trading on Friday, hitting $24.05. 56,837 shares of the stock traded hands. The company has a market cap of $400.24 million, a P/E ratio of 21.49 and a beta of 0.76. Carriage Services Inc. has a 52-week low of $19.03 and a 52-week high of $25.96. The firm has a 50-day moving average price of $23.50 and a 200 day moving average price of $23.01.
Carriage Services (NYSE:CSV) last released its earnings results on Tuesday, July 26th. The company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.02. The business earned $61.87 million during the quarter, compared to analysts’ expectations of $61.34 million. Carriage Services had a return on equity of 16.56% and a net margin of 8.01%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. On average, equities analysts expect that Carriage Services Inc. will post $1.70 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.83%. This is an increase from Carriage Services’s previous quarterly dividend of $0.03. The ex-dividend date was Friday, August 12th. Carriage Services’s dividend payout ratio is 17.86%.
Several analysts have commented on the stock. Barrington Research lifted their price objective on shares of Carriage Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Carriage Services from a “hold” rating to a “sell” rating in a research note 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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