Allspring Global Investments Holdings LLC reduced its stake in Carriage Services, Inc. (NYSE:CSV – Free Report) by 21.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,906 shares of the company’s stock after selling 43,342 shares during the period. Allspring Global Investments Holdings LLC owned 1.04% of Carriage Services worth $5,030,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in CSV. Tower Research Capital LLC TRC boosted its stake in shares of Carriage Services by 527.3% during the first quarter. Tower Research Capital LLC TRC now owns 828 shares of the company’s stock valued at $25,000 after purchasing an additional 696 shares in the last quarter. FMR LLC boosted its stake in shares of Carriage Services by 98.5% during the first quarter. FMR LLC now owns 1,179 shares of the company’s stock valued at $36,000 after purchasing an additional 585 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Carriage Services by 107.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,342 shares of the company’s stock valued at $65,000 after purchasing an additional 1,215 shares in the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of Carriage Services by 35.3% during the second quarter. Point72 Hong Kong Ltd now owns 1,655 shares of the company’s stock valued at $66,000 after purchasing an additional 432 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Carriage Services by 34.7% during the second quarter. BNP Paribas Arbitrage SA now owns 3,853 shares of the company’s stock valued at $153,000 after purchasing an additional 993 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com assumed coverage on shares of Carriage Services in a research report on Thursday, October 5th. They set a “buy” rating for the company.
Carriage Services Trading Up 1.4 %
NYSE:CSV opened at $23.25 on Friday. Carriage Services, Inc. has a 52 week low of $20.91 and a 52 week high of $35.99. The firm has a 50 day moving average of $27.05 and a 200 day moving average of $28.77. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 2.56. The stock has a market capitalization of $348.05 million, a price-to-earnings ratio of 11.57, a PEG ratio of 0.63 and a beta of 0.93.
Carriage Services (NYSE:CSV – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Carriage Services had a net margin of 8.33% and a return on equity of 23.72%. The company had revenue of $97.68 million during the quarter, compared to analysts’ expectations of $93.93 million. As a group, sell-side analysts anticipate that Carriage Services, Inc. will post 2.24 earnings per share for the current fiscal year.
Carriage Services Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 6th will be issued a $0.1125 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.94%. Carriage Services’s dividend payout ratio is currently 22.39%.
Carriage Services Company Profile
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. The company operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides 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.
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