Arrowstreet Capital Limited Partnership Lowers Holdings in Carriage Services, Inc. $CSV

Arrowstreet Capital Limited Partnership decreased its position in shares of Carriage Services, Inc. (NYSE:CSV) by 17.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,966 shares of the company’s stock after selling 39,348 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.19% of Carriage Services worth $8,506,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. De Lisle Partners LLP increased its holdings in Carriage Services by 13.9% in the second quarter. De Lisle Partners LLP now owns 209,777 shares of the company’s stock valued at $9,600,000 after buying an additional 25,676 shares in the last quarter. Norges Bank acquired a new stake in shares of Carriage Services during the 2nd quarter valued at about $1,848,000. Hsbc Holdings PLC purchased a new position in shares of Carriage Services in the 2nd quarter valued at about $1,558,000. Russell Investments Group Ltd. raised its holdings in Carriage Services by 3.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,833 shares of the company’s stock worth $404,000 after purchasing an additional 258 shares during the period. Finally, Boston Partners boosted its position in Carriage Services by 7.5% during the second quarter. Boston Partners now owns 202,581 shares of the company’s stock worth $9,266,000 after purchasing an additional 14,056 shares in the last quarter. 66.46% of the stock is owned by hedge funds and other institutional investors.

Carriage Services Stock Performance

NYSE:CSV opened at $42.46 on Thursday. The company has a market cap of $668.29 million, a P/E ratio of 13.65, a P/E/G ratio of 0.86 and a beta of 0.96. Carriage Services, Inc. has a twelve month low of $35.51 and a twelve month high of $49.41. The company’s 50-day moving average price is $43.46 and its 200-day moving average price is $44.43. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 2.23.

Carriage Services (NYSE:CSV) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Carriage Services had a net margin of 11.98% and a return on equity of 21.39%. The company had revenue of $102.74 million during the quarter, compared to the consensus estimate of $100.96 million. Carriage Services has set its FY 2025 guidance at 3.250-3.300 EPS. On average, sell-side analysts forecast that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 3rd were paid a dividend of $0.1125 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.45 dividend on an annualized basis and a yield of 1.1%. Carriage Services’s payout ratio is 14.47%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CSV. Barrington Research restated an “outperform” rating and issued a $60.00 price objective on shares of Carriage Services in a research report on Monday, December 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Carriage Services in a report on Monday. Zacks Research downgraded shares of Carriage Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Raymond James Financial began coverage on shares of Carriage Services in a research note on Wednesday, October 1st. They set an “outperform” rating and a $60.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Carriage Services has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Carriage Services 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.