Bank of New York Mellon Corp Makes New $4.52 Million Investment in Carriage Services, Inc. $CSV

Bank of New York Mellon Corp bought a new position in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 117,913 shares of the company's stock, valued at approximately $4,521,000. Bank of New York Mellon Corp owned about 0.74% of Carriage Services as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSV. Caitong International Asset Management Co. Ltd acquired a new position in Carriage Services during the 3rd quarter worth $29,000. PNC Financial Services Group Inc. raised its position in shares of Carriage Services by 50.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 784 shares of the company's stock valued at $36,000 after acquiring an additional 264 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Carriage Services by 1,736.0% during the first quarter. Jones Financial Companies Lllp now owns 918 shares of the company's stock worth $36,000 after purchasing an additional 868 shares in the last quarter. Optiver Holding B.V. lifted its holdings in shares of Carriage Services by 2,195.1% during the 1st quarter. Optiver Holding B.V. now owns 941 shares of the company's stock valued at $43,000 after purchasing an additional 900 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Carriage Services in the third quarter valued at approximately $51,000. 66.46% of the stock is currently owned by institutional investors and hedge funds.

Carriage Services Stock Performance

Carriage Services stock opened at $33.83 on Friday. The stock has a market cap of $536.88 million, a PE ratio of 12.13, a P/E/G ratio of 0.67 and a beta of 0.78. The company has a quick ratio of 1.29, a current ratio of 1.46 and a debt-to-equity ratio of 1.92. The business's 50-day moving average price is $36.95 and its two-hundred day moving average price is $41.40. Carriage Services, Inc. has a 12-month low of $33.09 and a 12-month high of $52.10.

Carriage Services (NYSE:CSV - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.04). Carriage Services had a net margin of 10.69% and a return on equity of 19.23%. The company had revenue of $102.95 million during the quarter, compared to analyst estimates of $108.91 million. Carriage Services has set its FY 2026 guidance at 3.350-3.550 EPS. As a group, analysts expect that Carriage Services, Inc. will post 3.38 earnings per share for the current fiscal year.

Carriage Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd were issued a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Carriage Services's payout ratio is presently 16.13%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSV. Zacks Research lowered Carriage Services from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Carriage Services from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 19th. Raymond James Financial set a $50.00 price target on Carriage Services in a research report on Friday, August 7th. Oppenheimer started coverage on shares of Carriage Services in a research note on Thursday, August 13th. They issued an "outperform" rating and a $48.00 price target on the stock. Finally, Roth Capital set a $46.00 target price on Carriage Services in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Carriage Services currently has an average rating of "Hold" and a consensus price target of $51.00.

Carriage Services Company Profile

Carriage Services, Inc operates as a leading provider of funeral, cemetery and cremation services in the United States. The company owns and operates a network of funeral homes, cemeteries, crematories and related service facilities, offering a comprehensive suite of end-of-life services. Its portfolio encompasses traditional funeral services, memorials, graveside burials, mausoleum entombment and direct cremation options, alongside personalized tributes and reception arrangements.

In addition to standard funeral and cemetery offerings, Carriage Services provides pre-arrangement planning and financing solutions designed to ease the administrative and financial burden on grieving families.

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