Maven Securities LTD Takes $1.48 Million Position in Carriage Services, Inc. $CSV

Key Points

• Maven Securities LTD has made a new investment of approximately $1.48 million in Carriage Services, Inc., acquiring 38,284 shares in the first quarter of the year.
• Carriage Services reported a quarterly earnings per share of $0.74, exceeding analyst expectations, with revenue reaching $102.15 million for the quarter.
• The company declared a quarterly dividend of $0.1125 per share, scheduled to be paid on September 2nd, 2023, representing a yield of 1.0%.

Maven Securities LTD purchased a new position in Carriage Services, Inc. (NYSE:CSV - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 38,284 shares of the company's stock, valued at approximately $1,484,000. Maven Securities LTD owned about 0.24% of Carriage Services as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System bought a new position in shares of Carriage Services in the 1st quarter worth $48,000. MQS Management LLC acquired a new stake in Carriage Services during the 1st quarter worth $621,000. LSV Asset Management raised its stake in Carriage Services by 9.7% during the 1st 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 during the period. Two Sigma Advisers LP raised its stake in Carriage Services by 15.0% during the 4th 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 during the period. Finally, LPL Financial LLC raised its stake in Carriage Services by 120.2% during the 1st 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 during the period. 66.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on CSV shares. Zacks Research raised Carriage Services to a "strong-buy" rating in a research note on Monday, August 11th. Roth Mkm reaffirmed a "buy" rating and set a $51.00 price objective (up previously from $48.00) on shares of Carriage Services in a research note on Friday, May 2nd. Wall Street Zen downgraded Carriage Services from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Barrington Research raised their price objective on Carriage Services from $50.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, Carriage Services currently has a consensus rating of "Buy" and a consensus target price of $58.67.

Carriage Services Stock Up 0.9%

Shares of CSV traded up $0.42 during midday trading on Friday, hitting $45.58. The stock had a trading volume of 77,570 shares, compared to its average volume of 112,178. The company has a 50 day simple moving average of $45.86 and a two-hundred day simple moving average of $42.33. Carriage Services, Inc. has a twelve month low of $30.15 and a twelve month high of $49.41. The firm has a market cap of $715.61 million, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 0.93 and a beta of 0.83. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.06 and a quick ratio of 0.90.

Carriage Services (NYSE:CSV - Get Free Report) last released its quarterly 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 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 the consensus estimate of $101.36 million. On average, analysts anticipate that Carriage Services, Inc. will post 2.5 EPS for the current year.

Carriage Services Dividend Announcement

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

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.