Carriage Services (NYSE:CSV) Hits New 1-Year High - Here's What Happened

Carriage Services, Inc. (NYSE:CSV - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $42.13 and last traded at $41.50, with a volume of 19970 shares traded. The stock had previously closed at $40.50.

Analyst Upgrades and Downgrades

Separately, 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 note on Thursday, October 31st.

Carriage Services Stock Up 0.8 %

The firm's 50 day moving average is $36.79 and its 200-day moving average is $32.53. The firm has a market cap of $621.56 million, a PE ratio of 18.31, a P/E/G ratio of 1.07 and a beta of 0.93. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 2.03.

Carriage Services (NYSE:CSV - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.19. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. The firm had revenue of $100.69 million for the quarter, compared to the consensus estimate of $93.49 million. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, equities research analysts expect that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.1125 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.45 annualized dividend and a yield of 1.10%. Carriage Services's dividend payout ratio is presently 20.18%.

Insider Activity

In related news, VP Paul Donald Elliott sold 5,000 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was 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 in the company, valued at approximately $1,290,791.48. This trade represents a 12.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 12.10% of the company's stock.

Institutional Investors Weigh In On Carriage Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Carriage Services by 46.6% during the 3rd quarter. FMR LLC now owns 852 shares of the company's stock worth $28,000 after purchasing an additional 271 shares during the last quarter. nVerses Capital LLC lifted its holdings in Carriage Services by 550.0% during the 2nd quarter. nVerses Capital LLC now owns 1,300 shares of the company's stock worth $35,000 after buying an additional 1,100 shares during the last quarter. Point72 DIFC Ltd grew its position in shares of Carriage Services by 613.0% in the 2nd quarter. Point72 DIFC Ltd now owns 1,861 shares of the company's stock worth $50,000 after acquiring an additional 1,600 shares in the last quarter. Perritt Capital Management Inc raised its position in shares of Carriage Services by 5,001.0% during the 2nd quarter. Perritt Capital Management Inc now owns 5,101 shares of the company's stock valued at $137,000 after acquiring an additional 5,001 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Carriage Services by 1,074.3% during the third quarter. Point72 Asset Management L.P. now owns 4,697 shares of the company's stock worth $154,000 after purchasing an additional 4,297 shares during the last quarter. Hedge funds and other institutional investors own 66.46% of the company's stock.

Carriage Services Company Profile

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.