Mendel Money Management Cuts Stock Holdings in Carriage Services, Inc. (NYSE:CSV)

Mendel Money Management trimmed its stake in Carriage Services, Inc. (NYSE:CSV) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,361 shares of the company’s stock after selling 4,087 shares during the period. Mendel Money Management owned approximately 0.40% of Carriage Services worth $2,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CSV. LPL Financial LLC raised its position in shares of Carriage Services by 5.2% during the 4th quarter. LPL Financial LLC now owns 61,700 shares of the company’s stock valued at $2,459,000 after buying an additional 3,030 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Carriage Services by 1.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 61,486 shares of the company’s stock valued at $2,450,000 after purchasing an additional 800 shares in the last quarter. American Century Companies Inc. lifted its stake in Carriage Services by 13.2% during the fourth quarter. American Century Companies Inc. now owns 24,892 shares of the company’s stock worth $992,000 after purchasing an additional 2,900 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Carriage Services by 217.3% in the 4th quarter. Quantbot Technologies LP now owns 4,982 shares of the company’s stock worth $199,000 after purchasing an additional 3,412 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in shares of Carriage Services during the 4th quarter valued at about $308,000. 66.46% of the stock is owned by hedge funds and other institutional investors.

Carriage Services Stock Performance

Shares of CSV stock opened at $38.10 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.59 and a current ratio of 0.72. Carriage Services, Inc. has a fifty-two week low of $23.20 and a fifty-two week high of $42.75. The stock has a 50 day moving average price of $39.90 and a two-hundred day moving average price of $37.70. The company has a market capitalization of $596.27 million, a P/E ratio of 17.09, a PEG ratio of 0.97 and a beta of 0.91.

Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.11. The company had revenue of $97.70 million during the quarter, compared to analyst estimates of $96.72 million. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. During the same quarter last year, the firm posted $0.77 earnings per share. Analysts expect that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 3rd were paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Monday, February 3rd. Carriage Services’s payout ratio is currently 21.43%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CSV shares. Barrington Research reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Carriage Services in a research note on Friday, February 28th. StockNews.com downgraded shares of Carriage Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th.

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.