Charles Schwab Investment Management Inc. Has $4.11 Million Stake in Carriage Services, Inc. $CSV

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Carriage Services, Inc. by 23.5%, selling 32,525 shares to hold approximately 0.68% of the company, valued at $4,113,000.
• Carriage Services recently announced a $0.1125 quarterly dividend, reflecting a 1.0% yield and a payout ratio of 13.51%, with payment scheduled for September 2nd.
• Analysts have shown increased confidence in Carriage Services, with several firms raising their target prices, resulting in a consensus rating of "Buy" and an average target price of $58.67.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) by 23.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,138 shares of the company's stock after selling 32,525 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.68% of Carriage Services worth $4,113,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CSV. MetLife Investment Management LLC raised its stake in shares of Carriage Services by 3.1% in the 4th quarter. MetLife Investment Management LLC now owns 8,223 shares of the company's stock valued at $328,000 after purchasing an additional 246 shares during the period. Hohimer Wealth Management LLC raised its stake in shares of Carriage Services by 4.1% in the 1st quarter. Hohimer Wealth Management LLC now owns 6,456 shares of the company's stock valued at $250,000 after purchasing an additional 255 shares during the period. Barclays PLC raised its stake in shares of Carriage Services by 4.6% in the 4th quarter. Barclays PLC now owns 21,370 shares of the company's stock valued at $852,000 after purchasing an additional 937 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Carriage Services in the 1st quarter valued at about $48,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Carriage Services by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 135,579 shares of the company's stock valued at $5,403,000 after purchasing an additional 1,301 shares during the period. Institutional investors and hedge funds own 66.46% of the company's stock.

Insider Buying and Selling

In other Carriage Services news, VP Shane Pudenz sold 13,027 shares of Carriage Services stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total transaction of $577,877.72. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Carriage Services Stock Performance

Shares of CSV traded down $0.19 during midday trading on Monday, reaching $43.70. The stock had a trading volume of 185,234 shares, compared to its average volume of 125,605. The firm has a market cap of $686.01 million, a PE ratio of 13.12, a P/E/G ratio of 0.89 and a beta of 0.86. The firm has a 50 day simple moving average of $45.89 and a 200-day simple moving average of $42.44. Carriage Services, Inc. has a one year low of $30.15 and a one year high of $49.41. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.72.

Carriage Services (NYSE:CSV - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. Carriage Services had a net margin of 12.85% and a return on equity of 21.63%. The business had revenue of $102.15 million during the quarter, compared to the consensus estimate of $101.36 million. As a group, sell-side analysts anticipate that Carriage Services, Inc. will post 2.5 EPS for the current year.

Carriage Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 4th will be paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, August 4th. Carriage Services's dividend payout ratio is 13.51%.

Wall Street Analysts Forecast Growth

CSV has been the topic of several recent research reports. Wall Street Zen downgraded Carriage Services from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Barrington Research lifted their price target on Carriage Services from $50.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. B. Riley reissued a "buy" rating and issued a $65.00 price target (up previously from $52.00) on shares of Carriage Services in a research note on Friday, August 8th. Finally, Zacks Research raised Carriage Services to a "strong-buy" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat, Carriage Services presently has an average rating of "Buy" and an average target price of $58.67.

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.