Carriage Services Inc. (CSV) Shares Sold by California Public Employees Retirement System
California Public Employees Retirement System cut its stake in Carriage Services Inc. (NYSE:CSV) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 169,100 shares of the company’s stock after selling 11,000 shares during the period. California Public Employees Retirement System owned approximately 1.02% of Carriage Services worth $3,999,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. 1st Global Advisors Inc. raised its stake in Carriage Services by 0.3% in the third quarter. 1st Global Advisors Inc. now owns 12,198 shares of the company’s stock valued at $288,000 after buying an additional 34 shares during the period. Brant Point Investment Management LLC raised its stake in Carriage Services by 1.0% in the second quarter. Brant Point Investment Management LLC now owns 48,500 shares of the company’s stock valued at $1,148,000 after buying an additional 500 shares during the period. Eqis Capital Management Inc. raised its stake in Carriage Services by 3.6% in the second quarter. Eqis Capital Management Inc. now owns 14,479 shares of the company’s stock valued at $343,000 after buying an additional 506 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Carriage Services by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,959 shares of the company’s stock valued at $1,065,000 after buying an additional 714 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its stake in Carriage Services by 4.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 19,230 shares of the company’s stock valued at $455,000 after buying an additional 827 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.
Carriage Services Inc. (NYSE:CSV) traded down 0.44% on Tuesday, hitting $27.37. 60,234 shares of the company’s stock traded hands. The stock has a market cap of $454.62 million, a PE ratio of 22.60 and a beta of 1.05. The stock has a 50-day moving average of $24.64 and a 200-day moving average of $23.78. Carriage Services Inc. has a one year low of $19.03 and a one year high of $27.78.
Carriage Services (NYSE:CSV) last posted its earnings results on Tuesday, October 25th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. The company earned $60.10 million during the quarter, compared to the consensus estimate of $60.56 million. Carriage Services had a net margin of 8.46% and a return on equity of 17.25%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, equities analysts forecast that Carriage Services Inc. will post $1.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. Carriage Services’s dividend payout ratio is presently 16.53%.
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Several research firms have recently commented on CSV. Barrington Research upped their price objective on Carriage Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 22nd. Zacks Investment Research upgraded Carriage Services from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Friday, October 28th.
In other Carriage Services news, Director Bryan Leibman bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was bought at an average cost of $23.52 per share, for a total transaction of $117,600.00. Following the completion of the transaction, the director now directly owns 15,837 shares of the company’s stock, valued at approximately $372,486.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.20% of the company’s stock.
About Carriage Services
Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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