Voya Investment Management LLC Acquires 3,665 Shares of Carriage Services, Inc. $CSV

Voya Investment Management LLC increased its position in Carriage Services, Inc. (NYSE:CSV) by 33.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,599 shares of the company’s stock after purchasing an additional 3,665 shares during the quarter. Voya Investment Management LLC owned approximately 0.09% of Carriage Services worth $566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSV. Vanguard Group Inc. increased its position in Carriage Services by 2.6% in the first quarter. Vanguard Group Inc. now owns 941,412 shares of the company’s stock worth $36,480,000 after purchasing an additional 24,138 shares during the period. LSV Asset Management grew its position in shares of Carriage Services by 9.7% during the 1st quarter. LSV Asset Management now owns 648,417 shares of the company’s stock worth $25,126,000 after buying an additional 57,500 shares during the period. De Lisle Partners LLP grew its position in shares of Carriage Services by 48.4% during the 1st quarter. De Lisle Partners LLP now owns 184,101 shares of the company’s stock worth $7,148,000 after buying an additional 60,030 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Carriage Services by 12.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168,079 shares of the company’s stock worth $6,513,000 after buying an additional 18,130 shares during the period. Finally, LPL Financial LLC grew its position in shares of Carriage Services by 120.2% during the 1st quarter. LPL Financial LLC now owns 135,893 shares of the company’s stock worth $5,266,000 after buying an additional 74,193 shares during the period. 66.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSV has been the subject of several research analyst reports. Zacks Research upgraded Carriage Services to a “strong-buy” rating in a research report on Monday, August 11th. Barrington Research reiterated an “outperform” rating and issued a $60.00 price objective on shares of Carriage Services in a research report on Wednesday, September 10th. B. Riley reiterated a “buy” rating and issued a $65.00 price objective (up from $52.00) on shares of Carriage Services in a research report on Friday, August 8th. Finally, Wall Street Zen lowered Carriage Services from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $58.67.

Carriage Services Stock Performance

CSV opened at $45.17 on Friday. The firm has a market cap of $709.22 million, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 0.91 and a beta of 0.86. Carriage Services, Inc. has a 52-week low of $30.15 and a 52-week high of $49.41. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.90 and a current ratio of 1.06. The business’s fifty day moving average is $44.84 and its 200-day moving average is $42.88.

Carriage Services (NYSE:CSV) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. Carriage Services had a return on equity of 21.63% and a net margin of 12.85%.The business had revenue of $102.15 million for the quarter, compared to analyst estimates of $101.36 million. Sell-side analysts expect that Carriage Services, Inc. will post 2.5 EPS for the current fiscal year.

Carriage Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 4th were issued a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, August 4th. Carriage Services’s payout ratio is presently 13.51%.

Insiders Place Their Bets

In other Carriage Services news, VP Shane Pudenz sold 13,027 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $44.36, for a total value of $577,877.72. Following the completion of the sale, the vice president owned 14,930 shares of the company’s stock, valued at approximately $662,294.80. This trade represents a 46.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

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.