Carriage Services (NYSE:CSV) Sees Unusually-High Trading Volume

Carriage Services, Inc. (NYSE:CSVGet Rating) shares saw unusually-high trading volume on Tuesday . Approximately 6,957 shares changed hands during mid-day trading, a decline of 93% from the previous session’s volume of 94,126 shares.The stock last traded at $40.09 and had previously closed at $37.70.

Wall Street Analysts Forecast Growth

CSV has been the subject of a number of analyst reports. B. Riley reduced their target price on shares of Carriage Services from $76.00 to $62.00 in a research note on Friday, July 29th. Barrington Research reiterated a “maintains” rating on shares of Carriage Services in a research note on Friday, July 29th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.50.

Carriage Services Price Performance

The stock’s 50 day moving average price is $39.60 and its two-hundred day moving average price is $45.90. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.80 and a quick ratio of 0.64. The firm has a market capitalization of $536.00 million, a price-to-earnings ratio of 11.36, a PEG ratio of 0.89 and a beta of 0.99.

Carriage Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 8th will be paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.25%. This is a boost from Carriage Services’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, August 5th. Carriage Services’s payout ratio is presently 14.20%.

Insider Transactions at Carriage Services

In related news, COO Carlos R. Quezada bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The shares were acquired at an average price of $37.93 per share, with a total value of $56,895.00. Following the completion of the transaction, the chief operating officer now owns 6,967 shares of the company’s stock, valued at approximately $264,258.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carriage Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its position in Carriage Services by 76.5% during the second quarter. US Bancorp DE now owns 727 shares of the company’s stock worth $29,000 after acquiring an additional 315 shares during the period. Charter Oak Capital Management LLC bought a new position in Carriage Services during the fourth quarter worth $32,000. Point72 Hong Kong Ltd bought a new position in Carriage Services during the fourth quarter worth $82,000. Robeco Institutional Asset Management B.V. bought a new stake in Carriage Services in the 4th quarter valued at $92,000. Finally, Amalgamated Bank bought a new stake in Carriage Services in the 1st quarter valued at $105,000. Institutional investors own 78.69% of the company’s stock.

About Carriage Services

(Get Rating)

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 engages in the provision of consultation, funeral home facilities for visitation and memorial services, and transportation services; removal and preparation of remains; and sale of burial and cremation services, and related merchandise, such as caskets and urns.

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