Axxcess Wealth Management LLC Purchases New Position in Carriage Services, Inc. $CSV

Key Points

• Axxcess Wealth Management LLC has acquired a new position in Carriage Services, Inc. (NYSE:CSV), purchasing 32,261 shares valued at approximately $1,476,000 during the second quarter.
• A range of hedge funds, including the Vanguard Group, have increased their holdings in Carriage Services, with institutional investors now owning 66.46% of the company's stock.
• Carriage Services reported an EPS of $0.74 for the last quarter, exceeding analyst estimates of $0.72, and anticipates an earnings per share of 2.5 for the current fiscal year.

Axxcess Wealth Management LLC purchased a new stake in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 32,261 shares of the company's stock, valued at approximately $1,476,000. Axxcess Wealth Management LLC owned 0.21% of Carriage Services at the end of the most recent reporting period.

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

Carriage Services Stock Performance

Shares of CSV opened at $45.05 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.72. The business's 50 day moving average price is $44.82 and its 200-day moving average price is $43.53. Carriage Services, Inc. has a 52 week low of $31.15 and a 52 week high of $49.41. The stock has a market cap of $707.12 million, a P/E ratio of 13.53, a P/E/G ratio of 0.90 and a beta of 0.86.

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

Insider Activity at Carriage Services

In other news, VP Shane Pudenz sold 13,027 shares of the business'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 sale, the vice president directly owned 14,930 shares of the company's stock, valued at $662,294.80. The trade was a 46.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSV has been the topic of a number of research analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Carriage Services in a report on Wednesday, October 8th. Barrington Research reiterated an "outperform" rating and set a $60.00 target price on shares of Carriage Services in a report on Wednesday, September 10th. Raymond James Financial assumed coverage on Carriage Services in a report on Wednesday, October 1st. They set an "outperform" rating and a $60.00 target price on the stock. Zacks Research downgraded Carriage Services from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, Wall Street Zen downgraded Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.00.

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.

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