Carriage Services (NYSE:CSV) Sets New 1-Year High – Here’s What Happened

Carriage Services, Inc. (NYSE:CSV) shares hit a new 52-week high on Thursday . The company traded as high as $42.67 and last traded at $42.02, with a volume of 14423 shares changing hands. The stock had previously closed at $41.73.

Analyst Ratings Changes

Separately, Barrington Research raised their price objective on shares of Carriage Services from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th.

Carriage Services Trading Up 0.3 %

The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59. The company has a market cap of $637.34 million, a price-to-earnings ratio of 18.78, a PEG ratio of 0.94 and a beta of 0.93. The business’s 50-day simple moving average is $39.98 and its 200-day simple moving average is $35.29.

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

Carriage Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.1125 per share. The ex-dividend date is Monday, February 3rd. This represents a $0.45 annualized dividend and a yield of 1.07%. Carriage Services’s dividend payout ratio is currently 20.18%.

Insiders Place Their Bets

In other news, VP Paul Donald Elliott sold 5,000 shares of the company’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 completion of the transaction, the vice president now owns 34,166 shares in the company, valued at approximately $1,290,791.48. This represents a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Carriage Services

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Values First Advisors Inc. raised its holdings in Carriage Services by 1.6% during the 4th quarter. Values First Advisors Inc. now owns 17,498 shares of the company’s stock worth $697,000 after purchasing an additional 270 shares during the last quarter. FMR LLC increased its stake in shares of Carriage Services by 46.6% in the 3rd quarter. FMR LLC now owns 852 shares of the company’s stock valued at $28,000 after acquiring an additional 271 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Carriage Services by 3.0% in the 2nd quarter. Marshall Wace LLP now owns 38,414 shares of the company’s stock valued at $1,031,000 after acquiring an additional 1,125 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Carriage Services by 9.2% in the 2nd quarter. AQR Capital Management LLC now owns 15,134 shares of the company’s stock valued at $406,000 after acquiring an additional 1,279 shares during the last quarter. Finally, XTX Topco Ltd increased its stake in shares of Carriage Services by 17.3% in the 3rd quarter. XTX Topco Ltd now owns 9,064 shares of the company’s stock valued at $298,000 after acquiring an additional 1,337 shares during the last quarter. 66.46% of the stock is owned by institutional investors and hedge funds.

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.