NFJ Investment Group LLC Buys New Position in Carriage Services, Inc. (NYSE:CSV)

NFJ Investment Group LLC bought a new stake in Carriage Services, Inc. (NYSE:CSV) during the third quarter, Holdings Channel.com reports. The fund bought 54,347 shares of the company’s stock, valued at approximately $1,784,000.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in shares of Carriage Services by 201.5% during the second quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock worth $6,166,000 after acquiring an additional 153,538 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Carriage Services by 8.2% during the second quarter. Renaissance Technologies LLC now owns 616,500 shares of the company’s stock worth $16,547,000 after acquiring an additional 46,700 shares in the last quarter. Deerfield Management Company L.P. Series C raised its stake in shares of Carriage Services by 198.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 53,584 shares of the company’s stock worth $1,438,000 after acquiring an additional 35,605 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Carriage Services in the third quarter worth $4,310,000. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Carriage Services in the third quarter worth $2,151,000. 66.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research lifted their target price on shares of Carriage Services from $39.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st.

Insider Activity at Carriage Services

In related news, VP Paul Donald Elliott sold 5,000 shares of Carriage Services stock in a transaction 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 sale, the vice president now owns 34,166 shares in the company, 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 legal filing with the SEC, which is available at this link. 12.10% of the stock is currently owned by company insiders.

Carriage Services Stock Up 0.3 %

Shares of NYSE CSV opened at $40.55 on Thursday. 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, Inc. has a 52 week low of $22.84 and a 52 week high of $40.91. The firm’s fifty day moving average is $35.39 and its 200 day moving average is $31.67. The company has a market cap of $617.29 million, a price-to-earnings ratio of 18.09, a PEG ratio of 1.08 and a beta of 0.93.

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

Carriage Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were issued a $0.1125 dividend. This represents a $0.45 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, November 4th. Carriage Services’s dividend payout ratio (DPR) is currently 20.18%.

Carriage Services 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.