Carriage Services (NYSE:CSV) Sets New 12-Month High – Here’s What Happened

Carriage Services, Inc. (NYSE:CSV)’s stock price reached a new 52-week high on Monday . The stock traded as high as $40.80 and last traded at $40.66, with a volume of 42789 shares traded. The stock had previously closed at $39.21.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Roth Mkm restated a “buy” rating and set a $40.00 price target (up previously from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd. Barrington Research upped their target price on Carriage Services from $39.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st.

Carriage Services Trading Up 3.7 %

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 company has a market cap of $618.69 million, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.05 and a beta of 0.91. The company’s fifty day moving average is $34.36 and its two-hundred day moving average is $30.98.

Carriage Services (NYSE:CSV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.19. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The firm had revenue of $100.69 million for the quarter, compared to analyst estimates of $93.49 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. On average, research analysts anticipate that Carriage Services, Inc. will post 2.5 EPS for the current year.

Carriage Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.1125 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.45 annualized dividend and a dividend yield of 1.11%. Carriage Services’s dividend payout ratio (DPR) is presently 20.18%.

Insider Buying and Selling

In related news, VP Paul Donald Elliott sold 5,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $37.78, for a total transaction of $188,900.00. Following the sale, the vice president now directly owns 34,166 shares of the company’s stock, valued at approximately $1,290,791.48. This represents a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 11.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CSV. Barclays PLC increased its holdings in Carriage Services by 228.6% in the 3rd quarter. Barclays PLC now owns 20,433 shares of the company’s stock worth $671,000 after acquiring an additional 14,215 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Carriage Services by 4.4% in the third quarter. Geode Capital Management LLC now owns 314,864 shares of the company’s stock valued at $10,339,000 after purchasing an additional 13,126 shares during the period. XTX Topco Ltd increased its stake in shares of Carriage Services by 17.3% during the third quarter. XTX Topco Ltd now owns 9,064 shares of the company’s stock worth $298,000 after purchasing an additional 1,337 shares in the last quarter. Zacks Investment Management acquired a new position in shares of Carriage Services during the 3rd quarter worth about $312,000. Finally, Point72 Asset Management L.P. lifted its stake in Carriage Services by 1,074.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,697 shares of the company’s stock valued at $154,000 after buying an additional 4,297 shares in the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.

About Carriage Services

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.