First Trust Advisors LP Grows Holdings in Carriage Services, Inc. (CSV)
First Trust Advisors LP raised its holdings in shares of Carriage Services, Inc. (NYSE:CSV) by 18.8% in the 2nd quarter, Holdings Channel reports. The firm owned 16,802 shares of the company’s stock after buying an additional 2,658 shares during the quarter. First Trust Advisors LP’s holdings in Carriage Services were worth $412,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new position in Carriage Services during the second quarter valued at $218,000. Spark Investment Management LLC bought a new position in Carriage Services during the first quarter valued at $362,000. Victory Capital Management Inc. bought a new position in Carriage Services during the first quarter valued at $368,000. Barclays PLC lifted its position in Carriage Services by 204.7% during the first quarter. Barclays PLC now owns 14,985 shares of the company’s stock valued at $415,000 after purchasing an additional 10,067 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Carriage Services by 532.4% during the second quarter. Bessemer Group Inc. now owns 21,500 shares of the company’s stock valued at $528,000 after purchasing an additional 18,100 shares during the last quarter. Institutional investors and hedge funds own 78.73% of the company’s stock.
Several equities analysts have commented on CSV shares. TheStreet lowered shares of Carriage Services from a “b-” rating to a “c+” rating in a research report on Thursday, August 30th. ValuEngine lowered shares of Carriage Services from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Finally, Barrington Research reiterated a “buy” rating and set a $32.00 price objective on shares of Carriage Services in a research report on Thursday, August 2nd.
Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.15). The firm had revenue of $63.00 million during the quarter, compared to the consensus estimate of $69.16 million. Carriage Services had a return on equity of 12.49% and a net margin of 14.40%. research analysts forecast that Carriage Services, Inc. will post 1.34 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 14th were issued a $0.075 dividend. The ex-dividend date was Monday, August 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.34%. Carriage Services’s dividend payout ratio (DPR) is presently 21.58%.
In other news, Director Donald Douglas Patteson, Jr. bought 4,000 shares of the stock in a transaction dated Monday, August 20th. The stock was purchased at an average price of $23.25 per share, for a total transaction of $93,000.00. Following the acquisition, the director now owns 51,431 shares of the company’s stock, valued at $1,195,770.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.60% of the stock is currently owned by company insiders.
About Carriage Services
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.
Further Reading: Book Value Per Share – BVPS
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