Janney Montgomery Scott LLC Acquires Shares of 9,505 Carriage Services, Inc. $CSV

Key Points

• Janney Montgomery Scott LLC acquired 9,505 shares of Carriage Services, Inc. in Q2, valued at approximately $435,000, representing 0.06% ownership of the company.
• Analysts have mixed views on Carriage Services; Wall Street Zen downgraded it to "hold", while B. Riley set a higher price target of $65.00.
• Carriage Services recently announced a dividend of $0.1125 per share, with an ex-dividend date of November 3rd, indicating a 1.0% yield.

Janney Montgomery Scott LLC acquired a new position in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,505 shares of the company's stock, valued at approximately $435,000. Janney Montgomery Scott LLC owned 0.06% of Carriage Services as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. BayBridge Capital Group LLC grew its stake in shares of Carriage Services by 4.7% during the second quarter. BayBridge Capital Group LLC now owns 8,311 shares of the company's stock worth $380,000 after purchasing an additional 376 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in Carriage Services in the second quarter valued at about $418,000. Longboard Asset Management LP acquired a new position in Carriage Services in the second quarter valued at about $239,000. Voya Investment Management LLC grew its stake in Carriage Services by 33.5% in the first quarter. Voya Investment Management LLC now owns 14,599 shares of the company's stock valued at $566,000 after acquiring an additional 3,665 shares during the period. Finally, Jane Street Group LLC acquired a new position in Carriage Services in the first quarter valued at about $689,000. 66.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSV has been the subject of a number of research analyst reports. Wall Street Zen cut Carriage Services from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Weiss Ratings reissued a "buy (b-)" rating on shares of Carriage Services in a research note on Wednesday, October 8th. Barrington Research reissued an "outperform" rating and issued a $60.00 target price on shares of Carriage Services in a research note on Wednesday, September 10th. B. Riley restated a "buy" rating and issued a $65.00 price target (up from $52.00) on shares of Carriage Services in a report on Friday, August 8th. Finally, Raymond James Financial started coverage on Carriage Services in a report on Wednesday, October 1st. They issued an "outperform" rating and a $60.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.00.

Carriage Services Price Performance

Shares of NYSE CSV opened at $44.49 on Friday. The business's 50 day moving average price is $44.67 and its two-hundred day moving average price is $43.61. The company has a market cap of $698.49 million, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.89 and a beta of 0.86. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.72. Carriage Services, Inc. has a twelve month low of $31.70 and a twelve month high of $49.41.

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

Carriage Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 yield of 1.0%. Carriage Services's dividend payout ratio is presently 13.51%.

Insiders Place Their Bets

In other Carriage Services news, VP Shane Pudenz sold 13,027 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $44.36, for a total transaction of $577,877.72. Following the completion of the sale, the vice president directly owned 14,930 shares in the company, valued at $662,294.80. This represents a 46.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by insiders.

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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