Nuveen LLC Takes Position in Carriage Services, Inc. $CSV

Key Points

• Nuveen LLC acquired 107,266 shares of Carriage Services, Inc. for about $4.16 million, representing approximately 0.69% ownership as of the latest reporting period.
• Carriage Services recently reported an earnings per share (EPS) of $0.74, exceeding analysts' expectations of $0.72, alongside a revenue of $102.15 million for the quarter.
• The company declared a quarterly dividend of $0.1125 per share, amounting to an annualized dividend yield of 1.0%, with payment scheduled for September 2nd.

Nuveen LLC acquired a new stake in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 107,266 shares of the company's stock, valued at approximately $4,157,000. Nuveen LLC owned 0.69% of Carriage Services at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in Carriage Services during the fourth quarter valued at about $45,000. New York State Teachers Retirement System purchased a new position in shares of Carriage Services during the 1st quarter valued at about $48,000. US Bancorp DE bought a new position in shares of Carriage Services during the 1st quarter valued at approximately $93,000. GAMMA Investing LLC increased its holdings in Carriage Services by 8,246.2% in the 1st quarter. GAMMA Investing LLC now owns 3,255 shares of the company's stock worth $126,000 after acquiring an additional 3,216 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its holdings in Carriage Services by 4.1% during the first 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 in the last quarter. 66.46% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction, the vice president directly owned 14,930 shares of the company's stock, valued at approximately $662,294.80. This represents a 46.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company's stock.

Carriage Services Stock Down 0.4%

Shares of NYSE:CSV traded down $0.19 on Monday, reaching $43.70. The company had a trading volume of 185,234 shares, compared to its average volume of 125,605. The firm has a market capitalization of $686.01 million, a PE ratio of 13.12, a PEG ratio of 0.89 and a beta of 0.86. 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, Inc. has a 52-week low of $30.15 and a 52-week high of $49.41. The firm's 50 day simple moving average is $45.88 and its 200-day simple moving average is $42.46.

Carriage Services (NYSE:CSV - Get Free Report) last posted 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. The company had revenue of $102.15 million for the quarter, compared to analyst estimates of $101.36 million. Carriage Services had a return on equity of 21.63% and a net margin of 12.85%. As a group, analysts expect that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

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

Wall Street Analyst Weigh In

CSV has been the topic of a number of analyst reports. B. Riley restated a "buy" rating and set a $65.00 target price (up previously from $52.00) on shares of Carriage Services in a research note on Friday, August 8th. Wall Street Zen cut Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Barrington Research upped 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, Zacks Research upgraded Carriage Services to a "strong-buy" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target 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.