Allspring Global Investments Holdings LLC Sells 14,499 Shares of Carriage Services, Inc. $CSV

Key Points

• Allspring Global Investments Holdings LLC decreased its stake in Carriage Services, Inc. by 8.6% in Q2, selling 14,499 shares and now owning a total of 153,580 shares valued at approximately $7 million.
• Several institutional investors, including Vanguard Group and LSV Asset Management, have increased their holdings in Carriage Services during the same period, indicating positive investor sentiment.
• Carriage Services announced a quarterly dividend of $0.1125 per share, with an upcoming payment date of December 1st, reflecting a 1.0% dividend yield.

Allspring Global Investments Holdings LLC reduced its stake in Carriage Services, Inc. (NYSE:CSV - Free Report) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,580 shares of the company's stock after selling 14,499 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.98% of Carriage Services worth $7,025,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Carriage Services by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 941,412 shares of the company's stock valued at $36,480,000 after acquiring an additional 24,138 shares in the last quarter. LSV Asset Management lifted its position in Carriage Services by 9.7% in the 1st quarter. LSV Asset Management now owns 648,417 shares of the company's stock valued at $25,126,000 after acquiring an additional 57,500 shares in the last quarter. De Lisle Partners LLP lifted its position in Carriage Services by 48.4% in the 1st quarter. De Lisle Partners LLP now owns 184,101 shares of the company's stock valued at $7,148,000 after acquiring an additional 60,030 shares in the last quarter. LPL Financial LLC lifted its position in Carriage Services by 120.2% in the 1st quarter. LPL Financial LLC now owns 135,893 shares of the company's stock valued at $5,266,000 after acquiring an additional 74,193 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Carriage Services during the 1st quarter worth about $4,157,000. 66.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Carriage Services

In other news, VP Shane Pudenz sold 13,027 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total transaction of $577,877.72. Following the transaction, the vice president directly owned 14,930 shares in the company, valued at $662,294.80. The trade was a 46.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CSV shares. Zacks Research cut shares of Carriage Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Wall Street Zen cut shares of Carriage Services from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Barrington Research reissued an "outperform" rating and set a $60.00 price target on shares of Carriage Services in a research report on Wednesday, September 10th. B. Riley reissued a "buy" rating and set a $65.00 price target (up from $52.00) on shares of Carriage Services in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Carriage Services in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.00.

Carriage Services Stock Up 0.8%

Carriage Services stock opened at $44.49 on Monday. The firm has a market capitalization of $698.49 million, a PE ratio of 13.36, a P/E/G ratio of 0.90 and a beta of 0.86. The company's 50-day moving average is $44.67 and its 200-day moving average is $43.67. Carriage Services, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $49.41. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.06 and a quick ratio of 0.90.

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

Carriage Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.1125 per share. The ex-dividend date is Monday, November 3rd. This represents a $0.45 annualized dividend and a dividend yield of 1.0%. Carriage Services's payout ratio is currently 13.51%.

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.

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