Rhumbline Advisers Sells 12,024 Shares of Carriage Services, Inc. $CSV

Key Points

• Rhumbline Advisers reduced its stake in Carriage Services by 37.3%, selling 12,024 shares and now owning approximately 20,202 shares valued at $783,000.
• Carriage Services recently declared a quarterly dividend of $0.1125 per share, which represents a 1.0% yield on an annualized basis.
• Carriage Services reported quarterly earnings of $0.74 per share, beating analysts' estimates, and had a revenue of $102.15 million, exceeding expectations of $101.36 million.

Rhumbline Advisers lessened its holdings in Carriage Services, Inc. (NYSE:CSV - Free Report) by 37.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,202 shares of the company's stock after selling 12,024 shares during the quarter. Rhumbline Advisers owned 0.13% of Carriage Services worth $783,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. New York State Teachers Retirement System acquired a new stake in Carriage Services in the first quarter valued at approximately $48,000. MQS Management LLC bought a new stake in Carriage Services during the 1st quarter valued at $621,000. LSV Asset Management increased its holdings in shares of Carriage Services by 9.7% in the first quarter. LSV Asset Management now owns 648,417 shares of the company's stock worth $25,126,000 after purchasing an additional 57,500 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Carriage Services by 15.0% in 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 last quarter. Finally, LPL Financial LLC grew its position in Carriage Services by 120.2% during the first quarter. LPL Financial LLC now owns 135,893 shares of the company's stock valued at $5,266,000 after acquiring an additional 74,193 shares during the last quarter. 66.46% of the stock is owned by institutional investors.

Carriage Services Trading Up 3.2%

Shares of NYSE:CSV traded up $1.40 during mid-day trading on Monday, reaching $45.40. 114,177 shares of the company were exchanged, compared to its average volume of 112,538. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market cap of $712.70 million, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.90 and a beta of 0.86. The firm's 50-day simple moving average is $44.98 and its 200 day simple moving average is $42.77. Carriage Services, Inc. has a 1 year low of $30.15 and a 1 year 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, topping analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $102.15 million for the quarter, compared to analysts' expectations of $101.36 million. Carriage Services had a return on equity of 21.63% and a net margin of 12.85%. Equities research analysts forecast that Carriage Services, Inc. will post 2.5 EPS for the current year.

Carriage Services Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. B. Riley reissued a "buy" rating and issued a $65.00 price target (up from $52.00) on shares of Carriage Services in a research note on Friday, August 8th. Zacks Research upgraded Carriage Services to a "strong-buy" rating in a research report on Monday, August 11th. Barrington Research reissued an "outperform" rating and issued a $60.00 price objective on shares of Carriage Services in a research note on Wednesday, September 10th. Finally, Wall Street Zen downgraded shares of Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat.com, Carriage Services presently has a consensus rating of "Buy" and a consensus target price of $58.67.

Insider Buying and Selling

In other news, VP Shane Pudenz sold 13,027 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total transaction of $577,877.72. Following the completion of the transaction, the vice president owned 14,930 shares of the company's stock, valued at approximately $662,294.80. The trade was a 46.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

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.