State Board of Administration of Florida Retirement System Has $543,000 Stake in Carriage Services, Inc. (NYSE:CSV)

State Board of Administration of Florida Retirement System lessened its holdings in Carriage Services, Inc. (NYSE:CSVGet Rating) by 37.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,702 shares of the company’s stock after selling 8,331 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.09% of Carriage Services worth $543,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its position in Carriage Services by 76.5% during the 2nd quarter. US Bancorp DE now owns 727 shares of the company’s stock valued at $29,000 after purchasing an additional 315 shares during the period. Amalgamated Bank purchased a new stake in shares of Carriage Services during the 1st quarter valued at $105,000. Dupont Capital Management Corp purchased a new stake in shares of Carriage Services during the 2nd quarter valued at $139,000. Bailard Inc. increased its holdings in Carriage Services by 12.0% in the 2nd quarter. Bailard Inc. now owns 5,591 shares of the company’s stock worth $222,000 after acquiring an additional 600 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Carriage Services in the 2nd quarter worth about $247,000. Institutional investors own 77.41% of the company’s stock.

Carriage Services Trading Down 2.9 %

Shares of NYSE:CSV opened at $24.07 on Friday. Carriage Services, Inc. has a 12-month low of $22.71 and a 12-month high of $66.33. The business’s fifty day simple moving average is $29.84 and its 200-day simple moving average is $35.80. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 4.40. The company has a market capitalization of $354.31 million, a PE ratio of 8.48, a P/E/G ratio of 0.65 and a beta of 0.85.

Carriage Services (NYSE:CSVGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). Carriage Services had a net margin of 12.50% and a return on equity of 35.79%. The company had revenue of $87.50 million during the quarter, compared to analysts’ expectations of $88.98 million. As a group, equities research analysts predict that Carriage Services, Inc. will post 2.55 earnings per share for the current fiscal year.

Carriage Services Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, November 4th. Carriage Services’s dividend payout ratio is currently 15.85%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barrington Research dropped their price target on Carriage Services from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 27th. B. Riley dropped their target price on Carriage Services from $76.00 to $62.00 in a report on Friday, July 29th. StockNews.com began coverage on Carriage Services in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, TheStreet downgraded Carriage Services from a “b-” rating to a “c+” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Carriage Services has a consensus rating of “Moderate Buy” and an average target price of $59.67.

Carriage Services Company Profile

(Get Rating)

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment engages in the provision of consultation, funeral home facilities for visitation and memorial services, and transportation services; removal and preparation of remains; and sale of burial and cremation services, and related merchandise, such as caskets and urns.

See Also

Institutional Ownership by Quarter for Carriage Services (NYSE:CSV)

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