Carriage Services (NYSE:CSV) Hits New 1-Year High – Here’s Why

Shares of Carriage Services, Inc. (NYSE:CSV) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $39.20 and last traded at $39.20, with a volume of 246 shares changing hands. The stock had previously closed at $37.97.

Analyst Ratings Changes

CSV has been the subject of several analyst reports. Barrington Research lifted their price objective on shares of Carriage Services from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Roth Mkm reaffirmed a “buy” rating and issued a $40.00 price objective (up previously from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd.

Carriage Services Stock Performance

The stock has a market cap of $597.91 million, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.69 and a current ratio of 0.72. The stock’s 50-day simple moving average is $33.00 and its two-hundred day simple moving average is $29.88.

Carriage Services (NYSE:CSV) last released its earnings results 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. The firm had revenue of $100.69 million during the quarter, compared to analyst estimates of $93.49 million. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. During the same quarter in the previous year, the business earned $0.33 EPS. Analysts forecast that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Monday, November 4th. Carriage Services’s dividend payout ratio is 20.18%.

Insiders Place Their Bets

In other Carriage Services news, VP Paul Donald Elliott sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $37.78, for a total transaction 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Shawn R. Phillips sold 7,101 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.00, for a total transaction of $213,030.00. Following the completion of the transaction, the vice president now owns 90,700 shares of the company’s stock, valued at approximately $2,721,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Donald Elliott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $37.78, for a total transaction of $188,900.00. Following the transaction, the vice president now directly owns 34,166 shares of the company’s stock, valued at $1,290,791.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Carriage Services by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,475 shares of the company’s stock valued at $284,000 after buying an additional 746 shares during the last quarter. nVerses Capital LLC increased its stake in Carriage Services by 550.0% in the second quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock valued at $35,000 after acquiring an additional 1,100 shares during the period. Marshall Wace LLP increased its stake in Carriage Services by 3.0% in the second quarter. Marshall Wace LLP now owns 38,414 shares of the company’s stock valued at $1,031,000 after acquiring an additional 1,125 shares during the period. AQR Capital Management LLC increased its stake in Carriage Services by 9.2% in the second quarter. AQR Capital Management LLC now owns 15,134 shares of the company’s stock valued at $406,000 after acquiring an additional 1,279 shares during the period. Finally, Point72 DIFC Ltd increased its stake in Carriage Services by 613.0% in the second quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock valued at $50,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds own 66.46% of the company’s stock.

About Carriage Services

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.