Wolverine Trading LLC cut its holdings in Carriage Services, Inc. (NYSE:CSV - Free Report) by 63.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,419 shares of the company's stock after selling 26,957 shares during the quarter. Wolverine Trading LLC owned 0.10% of Carriage Services worth $506,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CSV. Point72 Asset Management L.P. boosted its holdings 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 buying an additional 4,297 shares in the last quarter. Penn Mutual Asset Management acquired a new stake in shares of Carriage Services during the 3rd quarter valued at approximately $433,000. Maven Securities LTD boosted its stake in shares of Carriage Services by 34.9% during the 3rd quarter. Maven Securities LTD now owns 20,000 shares of the company's stock worth $657,000 after acquiring an additional 5,176 shares in the last quarter. NFJ Investment Group LLC acquired a new stake in shares of Carriage Services in the 3rd quarter worth approximately $1,784,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in Carriage Services by 6.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 82,238 shares of the company's stock valued at $2,700,000 after purchasing an additional 4,850 shares in the last quarter. Institutional investors and hedge funds own 66.46% of the company's stock.
Insider Activity
In other news, VP Paul Donald Elliott sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $37.78, for a total value of $188,900.00. Following the completion of the transaction, the vice president now owns 34,166 shares of the company's stock, valued at $1,290,791.48. The trade was a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 12.10% of the company's stock.
Analysts Set New Price Targets
Separately, Barrington Research boosted their target price on Carriage Services from $39.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st.
Check Out Our Latest Stock Analysis on Carriage Services
Carriage Services Price Performance
NYSE:CSV traded up $0.74 during mid-day trading on Friday, hitting $40.50. 102,270 shares of the company's stock traded hands, compared to its average volume of 103,904. 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 $616.41 million, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. The firm's 50 day simple moving average is $36.59 and its 200 day simple moving average is $32.34. Carriage Services, Inc. has a 1 year low of $22.84 and a 1 year high of $40.91.
Carriage Services (NYSE:CSV - Get Free Report) last issued 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 business had revenue of $100.69 million during the quarter, compared to analysts' expectations of $93.49 million. During the same period last year, the company posted $0.33 EPS. Sell-side analysts expect that Carriage Services, Inc. will post 2.5 EPS for the current year.
Carriage Services Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were issued a $0.1125 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.11%. Carriage Services's dividend payout ratio (DPR) is 20.18%.
About Carriage Services
(
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.
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