Millennium Management LLC Has $542,000 Holdings in Carriage Services, Inc. (NYSE:CSV)

Millennium Management LLC lowered its stake in Carriage Services, Inc. (NYSE:CSV - Free Report) by 58.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,600 shares of the company's stock after selling 19,170 shares during the period. Millennium Management LLC owned approximately 0.09% of Carriage Services worth $542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSV. LSV Asset Management lifted its position in shares of Carriage Services by 12.4% in the fourth quarter. LSV Asset Management now owns 590,917 shares of the company's stock worth $23,548,000 after buying an additional 65,358 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Carriage Services by 16.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 237,228 shares of the company's stock worth $9,454,000 after purchasing an additional 34,342 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Carriage Services in the fourth quarter worth about $1,159,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Carriage Services by 92.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,642 shares of the company's stock worth $2,018,000 after purchasing an additional 24,263 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Carriage Services by 20.3% in the fourth quarter. JPMorgan Chase & Co. now owns 142,989 shares of the company's stock worth $5,698,000 after purchasing an additional 24,098 shares during the period. Institutional investors and hedge funds own 66.46% of the company's stock.

Carriage Services Trading Up 1.1%

Carriage Services stock opened at $45.05 on Monday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.59 and a current ratio of 0.72. The business's 50-day simple moving average is $40.71 and its 200-day simple moving average is $40.15. The firm has a market capitalization of $706.95 million, a PE ratio of 20.20, a PEG ratio of 0.97 and a beta of 0.88. Carriage Services, Inc. has a 52 week low of $25.84 and a 52 week high of $45.25.

Carriage Services (NYSE:CSV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.16. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. The firm had revenue of $8.47 million for the quarter, compared to analyst estimates of $104.17 million. Equities research analysts forecast that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 5th were paid a dividend of $0.1125 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.45 annualized dividend and a yield of 1.00%. Carriage Services's dividend payout ratio is 15.05%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Roth Mkm reiterated a "buy" rating and issued a $51.00 price objective (up from $48.00) on shares of Carriage Services in a research note on Friday, May 2nd. Barrington Research reiterated an "outperform" rating and issued a $50.00 price objective on shares of Carriage Services in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded Carriage Services from a "hold" rating to a "buy" rating in a research note on Sunday, May 11th.

Insider Activity at Carriage Services

In related news, President Steven D. Metzger sold 3,508 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $40.09, for a total transaction of $140,635.72. Following the transaction, the president now directly owns 81,389 shares in the company, valued at $3,262,885.01. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 9,000 shares of company stock worth $362,141 over the last three months. Company insiders own 2.60% of the company's stock.

Carriage Services 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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