Carriage Services, Inc. (NYSE:CSV) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) by 12.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,079 shares of the company's stock after purchasing an additional 18,130 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.07% of Carriage Services worth $6,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSV. Johnson Financial Group Inc. acquired a new position in shares of Carriage Services in the fourth quarter worth about $45,000. GAMMA Investing LLC lifted its stake in shares of Carriage Services by 8,246.2% in the first quarter. GAMMA Investing LLC now owns 3,255 shares of the company's stock worth $126,000 after acquiring an additional 3,216 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of Carriage Services by 217.3% in the fourth quarter. Quantbot Technologies LP now owns 4,982 shares of the company's stock worth $199,000 after acquiring an additional 3,412 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in shares of Carriage Services in the fourth quarter worth about $202,000. Finally, Intech Investment Management LLC acquired a new position in shares of Carriage Services in the fourth quarter worth about $220,000. Institutional investors and hedge funds own 66.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CSV. Roth Mkm reiterated a "buy" rating and issued a $51.00 price target (up previously from $48.00) on shares of Carriage Services in a research note on Friday, May 2nd. Wall Street Zen lowered Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Barrington Research reissued an "outperform" rating and issued a $50.00 price objective on shares of Carriage Services in a report on Thursday, May 1st.

Insider Activity at Carriage Services

In other news, President Steven D. Metzger sold 3,508 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $40.09, for a total transaction of $140,635.72. Following the completion of the transaction, the president directly owned 81,389 shares of the company's stock, valued at approximately $3,262,885.01. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 9,000 shares of company stock worth $362,141 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Carriage Services Stock Up 0.2%

Carriage Services stock traded up $0.11 during midday trading on Tuesday, hitting $46.37. The stock had a trading volume of 66,966 shares, compared to its average volume of 108,594. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 2.35. The stock has a market cap of $727.55 million, a P/E ratio of 15.51, a P/E/G ratio of 0.98 and a beta of 0.89. Carriage Services, Inc. has a 12 month low of $25.84 and a 12 month high of $47.48. The business has a fifty day moving average price of $43.66 and a 200 day moving average price of $40.91.

Carriage Services (NYSE:CSV - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.80 by $0.16. The company had revenue of $8.47 million during the quarter, compared to analyst estimates of $104.17 million. Carriage Services had a return on equity of 21.96% and a net margin of 11.50%. Research analysts predict that Carriage Services, Inc. will post 2.5 EPS for the current year.

Carriage Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 5th were issued a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, May 5th. Carriage Services's dividend payout ratio (DPR) is presently 15.05%.

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.