Algert Global LLC Has $246,000 Stock Position in Carriage Services, Inc. $CSV

Key Points

• Algert Global LLC has reduced its stake in Carriage Services, Inc. by 47.6% in the first quarter, leaving them with 6,344 shares valued at $246,000.
• Carriage Services recently reported earnings beating expectations, with $0.74 EPS for the quarter and revenue of $102.15 million.
• The company declared a quarterly dividend of $0.1125 per share, with a yield of 1.0% and a payout ratio of 13.51%.

Algert Global LLC decreased its position in Carriage Services, Inc. (NYSE:CSV - Free Report) by 47.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,344 shares of the company's stock after selling 5,770 shares during the period. Algert Global LLC's holdings in Carriage Services were worth $246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CSV. New York State Teachers Retirement System bought a new stake in Carriage Services during the first quarter worth approximately $48,000. MQS Management LLC bought a new stake in Carriage Services during the first quarter worth approximately $621,000. LSV Asset Management boosted its holdings in Carriage Services by 9.7% during the first quarter. LSV Asset Management now owns 648,417 shares of the company's stock worth $25,126,000 after buying an additional 57,500 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Carriage Services by 15.0% during the fourth quarter. Two Sigma Advisers LP now owns 115,100 shares of the company's stock worth $4,587,000 after buying an additional 15,000 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in Carriage Services by 120.2% during the first quarter. LPL Financial LLC now owns 135,893 shares of the company's stock worth $5,266,000 after buying an additional 74,193 shares in the last quarter. 66.46% of the stock is currently owned by institutional investors.

Insider Transactions at Carriage Services

In other Carriage Services news, VP Shane Pudenz sold 13,027 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total value of $577,877.72. Following the completion of the sale, the vice president owned 14,930 shares in the company, valued at $662,294.80. This represents a 46.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Carriage Services Stock Down 0.4%

CSV stock traded down $0.19 during midday trading on Friday, reaching $43.70. The company had a trading volume of 185,234 shares, compared to its average volume of 114,737. Carriage Services, Inc. has a 1 year low of $30.15 and a 1 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. The company has a market capitalization of $686.01 million, a P/E ratio of 13.12, a PEG ratio of 0.91 and a beta of 0.83. The company has a 50 day moving average of $45.89 and a two-hundred day moving average of $42.41.

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

Carriage Services Dividend Announcement

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

Analyst Ratings Changes

CSV has been the subject of a number of research reports. B. Riley restated a "buy" rating and set a $65.00 target price (up from $52.00) on shares of Carriage Services in a report on Friday, August 8th. Barrington Research upped their price target on shares of Carriage Services from $50.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Roth Mkm restated a "buy" rating and issued a $51.00 price target (up previously from $48.00) on shares of Carriage Services in a research report on Friday, May 2nd. Zacks Research upgraded shares of Carriage Services to a "strong-buy" rating in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded shares of Carriage Services from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $58.67.

About Carriage Services

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.