Parvin Asset Management LLC acquired a new stake in Carriage Services, Inc. (NYSE:CSV - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 21,475 shares of the company's stock, valued at approximately $856,000. Parvin Asset Management LLC owned approximately 0.14% of Carriage Services at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Northern Trust Corp boosted its holdings in shares of Carriage Services by 3.9% in the fourth quarter. Northern Trust Corp now owns 114,409 shares of the company's stock worth $4,559,000 after acquiring an additional 4,244 shares during the period. Johnson Financial Group Inc. bought a new position in Carriage Services in the 4th quarter worth about $45,000. Price T Rowe Associates Inc. MD increased its position in shares of Carriage Services by 18.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 77,688 shares of the company's stock valued at $3,097,000 after buying an additional 12,103 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Carriage Services by 3.1% in the fourth quarter. MetLife Investment Management LLC now owns 8,223 shares of the company's stock worth $328,000 after buying an additional 246 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Carriage Services by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 734,828 shares of the company's stock valued at $29,283,000 after acquiring an additional 9,080 shares during the period. 66.46% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Carriage Services
In related news, President Steven D. Metzger sold 2,492 shares of Carriage Services stock in a transaction on Monday, April 28th. The shares were sold at an average price of $40.01, for a total value of $99,704.92. Following the transaction, the president now owns 78,897 shares in the company, valued at $3,156,668.97. This trade represents a 3.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.60% of the company's stock.
Wall Street Analyst Weigh In
CSV has been the topic of a number of analyst reports. Roth Mkm reaffirmed a "buy" rating and set a $51.00 target price (up previously from $48.00) on shares of Carriage Services in a report on Friday. Barrington Research reiterated an "outperform" rating and issued a $50.00 price objective on shares of Carriage Services in a research report on Thursday. Finally, StockNews.com cut Carriage Services from a "buy" rating to a "hold" rating in a research report on Saturday.
Check Out Our Latest Research Report on Carriage Services
Carriage Services Price Performance
CSV stock traded down $0.26 during midday trading on Monday, reaching $39.99. The company had a trading volume of 30,713 shares, compared to its average volume of 115,219. The firm has a 50-day moving average price of $38.65 and a 200-day moving average price of $39.03. The company has a market capitalization of $625.77 million, a P/E ratio of 17.93, a P/E/G ratio of 0.97 and a beta of 0.93. Carriage Services, Inc. has a 1 year low of $25.44 and a 1 year high of $42.75. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59.
Carriage Services (NYSE:CSV - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.16. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. The business had revenue of $8.47 million for the quarter, compared to analysts' expectations of $104.17 million. On average, research analysts anticipate that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.
Carriage Services Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be paid a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Monday, May 5th. Carriage Services's dividend payout ratio (DPR) is presently 15.05%.
About Carriage Services
(
Free Report)
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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