Carriage Services, Inc. (NYSE:CSV) Director Charles Fargason Acquires 6,000 Shares

Carriage Services, Inc. (NYSE:CSVGet Free Report) Director Charles Fargason purchased 6,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were acquired at an average cost of $25.58 per share, with a total value of $153,480.00. Following the completion of the transaction, the director now owns 14,640 shares in the company, valued at $374,491.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Carriage Services Trading Down 1.8 %

Shares of NYSE CSV opened at $26.32 on Friday. The firm’s 50 day moving average price is $25.00 and its 200-day moving average price is $25.00. The company has a market cap of $398.48 million, a PE ratio of 12.24, a P/E/G ratio of 0.79 and a beta of 0.83. Carriage Services, Inc. has a 52-week low of $18.06 and a 52-week high of $35.59. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.65 and a current ratio of 0.82.

Carriage Services (NYSE:CSVGet Free Report) last issued its earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.28. The firm had revenue of $98.83 million for the quarter, compared to the consensus estimate of $93.27 million. Carriage Services had a net margin of 8.73% and a return on equity of 21.39%. On average, equities research analysts expect that Carriage Services, Inc. will post 2.25 EPS for the current fiscal year.

Carriage Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 5th were given a dividend of $0.1125 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.45 dividend on an annualized basis and a yield of 1.71%. Carriage Services’s dividend payout ratio (DPR) is 20.93%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSV. Price T Rowe Associates Inc. MD lifted its position in Carriage Services by 2,866.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 236,839 shares of the company’s stock valued at $9,391,000 after purchasing an additional 228,855 shares during the period. Ameriprise Financial Inc. increased its holdings in Carriage Services by 18.3% during the first quarter. Ameriprise Financial Inc. now owns 1,291,979 shares of the company’s stock valued at $39,431,000 after buying an additional 200,006 shares during the last quarter. Millennium Management LLC increased its holdings in Carriage Services by 61.7% during the second quarter. Millennium Management LLC now owns 307,860 shares of the company’s stock valued at $12,207,000 after buying an additional 117,436 shares during the last quarter. Marshall Wace LLP purchased a new stake in Carriage Services during the third quarter valued at approximately $2,763,000. Finally, Vanguard Group Inc. increased its holdings in Carriage Services by 6.8% during the first quarter. Vanguard Group Inc. now owns 946,962 shares of the company’s stock valued at $50,500,000 after buying an additional 60,532 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Carriage Services from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Barrington Research reiterated an “outperform” rating and issued a $38.00 target price on shares of Carriage Services in a research note on Friday, February 23rd.

Get Our Latest Research Report on CSV

About Carriage Services

(Get 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.

Further Reading

Insider Buying and Selling by Quarter for Carriage Services (NYSE:CSV)

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