Occudo Quantitative Strategies LP Cuts Stock Holdings in Carriage Services, Inc. (NYSE:CSV)

Occudo Quantitative Strategies LP lowered its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,046 shares of the company’s stock after selling 1,074 shares during the period. Occudo Quantitative Strategies LP owned approximately 0.05% of Carriage Services worth $321,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new position in Carriage Services during the fourth quarter worth approximately $45,000. R Squared Ltd acquired a new stake in shares of Carriage Services in the fourth quarter worth $65,000. Quantbot Technologies LP increased its position in shares of Carriage Services by 217.3% in the fourth quarter. Quantbot Technologies LP now owns 4,982 shares of the company’s stock worth $199,000 after acquiring an additional 3,412 shares in the last quarter. Polymer Capital Management US LLC acquired a new stake in shares of Carriage Services in the fourth quarter worth $202,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Carriage Services in the fourth quarter worth $220,000. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CSV. StockNews.com raised shares of Carriage Services from a “hold” rating to a “buy” rating in a research report on Sunday, May 11th. Roth Mkm reissued a “buy” rating and issued a $51.00 price objective (up previously from $48.00) on shares of Carriage Services in a research report on Friday, May 2nd. Finally, Barrington Research reissued an “outperform” rating and issued a $50.00 price objective on shares of Carriage Services in a research report on Thursday, May 1st.

Carriage Services Price Performance

CSV opened at $43.96 on Friday. The company has a fifty day simple moving average of $39.13 and a 200 day simple moving average of $39.58. The firm has a market cap of $689.79 million, a price-to-earnings ratio of 19.71, a PEG ratio of 0.97 and a beta of 0.93. Carriage Services, Inc. has a twelve month low of $25.84 and a twelve month high of $44.35. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03.

Carriage Services (NYSE:CSV) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.16. The business had revenue of $8.47 million during the quarter, compared to analyst estimates of $104.17 million. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. Equities research analysts expect that Carriage Services, Inc. will post 2.5 EPS for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 5th will be issued a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Monday, May 5th. Carriage Services’s payout ratio is 15.05%.

Insider Activity at Carriage Services

In other Carriage Services news, President Steven D. Metzger sold 2,492 shares of the firm’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $40.01, for a total transaction of $99,704.92. Following the completion of the transaction, the president now directly owns 78,897 shares of the company’s stock, valued at $3,156,668.97. This trade represents a 3.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 9,000 shares of company stock valued at $362,141. Corporate insiders own 2.60% 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.