Carriage Services, Inc. (CSV) Stake Boosted by Geode Capital Management LLC
Geode Capital Management LLC raised its stake in Carriage Services, Inc. (NYSE:CSV) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,191 shares of the company’s stock after buying an additional 4,936 shares during the period. Geode Capital Management LLC owned about 0.69% of Carriage Services worth $3,123,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc increased its position in shares of Carriage Services by 0.8% in the first quarter. Legal & General Group Plc now owns 4,044 shares of the company’s stock valued at $110,000 after buying an additional 31 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Carriage Services during the first quarter valued at approximately $245,000. American International Group Inc. increased its position in shares of Carriage Services by 7.1% in the first quarter. American International Group Inc. now owns 9,107 shares of the company’s stock valued at $247,000 after buying an additional 606 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in shares of Carriage Services by 12.0% in the first quarter. Virginia Retirement Systems ET AL now owns 11,200 shares of the company’s stock valued at $304,000 after buying an additional 1,200 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its position in shares of Carriage Services by 6.4% in the first quarter. Eqis Capital Management Inc. now owns 21,103 shares of the company’s stock valued at $572,000 after buying an additional 1,277 shares in the last quarter. 86.93% of the stock is currently owned by institutional investors.
Carriage Services, Inc. (CSV) traded down 0.21% during mid-day trading on Monday, hitting $24.10. The stock had a trading volume of 10,733 shares. Carriage Services, Inc. has a one year low of $22.53 and a one year high of $29.11. The stock’s 50 day moving average price is $25.55 and its 200 day moving average price is $26.44. The firm has a market capitalization of $402.95 million, a price-to-earnings ratio of 20.41 and a beta of 0.92.
Carriage Services (NYSE:CSV) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The firm had revenue of $63.87 million for the quarter, compared to analyst estimates of $64.35 million. Carriage Services had a return on equity of 15.25% and a net margin of 8.35%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. Analysts forecast that Carriage Services, Inc. will post $1.62 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, August 10th. This represents a $0.20 annualized dividend and a yield of 0.83%. Carriage Services’s payout ratio is currently 16.95%.
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Several brokerages have commented on CSV. Zacks Investment Research downgraded Carriage Services from a “hold” rating to a “strong sell” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and set a $82.00 price objective on shares of Carriage Services in a research report on Monday, June 12th. Finally, BidaskClub cut Carriage Services from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
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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