Fenimore Asset Management Inc. reduced its position in Carriage Services, Inc. (NYSE:CSV) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,134 shares of the company’s stock after selling 14,300 shares during the quarter. Fenimore Asset Management Inc. owned approximately 2.44% of Carriage Services worth $8,443,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its stake in shares of Carriage Services by 858.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,663 shares of the company’s stock valued at $71,000 after buying an additional 3,281 shares during the period. Legal & General Group Plc lifted its stake in Carriage Services by 56.6% during the fourth quarter. Legal & General Group Plc now owns 4,177 shares of the company’s stock worth $64,000 after purchasing an additional 1,509 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Carriage Services by 423.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,643 shares of the company’s stock worth $87,000 after purchasing an additional 4,565 shares during the last quarter. Bailard Inc. purchased a new stake in Carriage Services during the first quarter worth approximately $193,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in Carriage Services during the fourth quarter worth approximately $161,000. 77.95% of the stock is owned by institutional investors.
NYSE:CSV opened at $22.00 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.79 and a debt-to-equity ratio of 1.71. The business’s 50 day moving average is $19.77 and its two-hundred day moving average is $19.56. Carriage Services, Inc. has a 52 week low of $14.50 and a 52 week high of $24.09. The company has a market cap of $389.19 million, a PE ratio of 18.80, a P/E/G ratio of 1.05 and a beta of 0.78.
Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Carriage Services had a return on equity of 8.54% and a net margin of 4.08%. The company had revenue of $67.75 million during the quarter, compared to the consensus estimate of $66.55 million. As a group, sell-side analysts expect that Carriage Services, Inc. will post 1.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, August 9th. Carriage Services’s payout ratio is 25.64%.
Several analysts have recently issued reports on CSV shares. ValuEngine upgraded Carriage Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Carriage Services from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, August 7th. Finally, Barrington Research reiterated a “buy” rating and issued a $26.00 target price on shares of Carriage Services in a research note on Monday, July 22nd.
Carriage Services Company Profile
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.
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