Bank of New York Mellon Corp increased its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 115,076 shares of the company’s stock after purchasing an additional 3,312 shares during the quarter. Bank of New York Mellon Corp owned 0.71% of Carriage Services worth $2,825,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Carriage Services during the 2nd quarter valued at approximately $218,000. Engineers Gate Manager LP bought a new position in shares of Carriage Services during the 2nd quarter valued at approximately $241,000. Barclays PLC increased its position in shares of Carriage Services by 204.7% during the 1st 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. First Trust Advisors LP increased its position in shares of Carriage Services by 18.8% during the 2nd quarter. First Trust Advisors LP now owns 16,802 shares of the company’s stock valued at $412,000 after purchasing an additional 2,658 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Carriage Services by 532.4% during the 2nd 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. 78.73% of the stock is currently owned by hedge funds and other institutional investors.
In other Carriage Services news, insider Shawn R. Phillips sold 6,500 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $21.65, for a total value of $140,725.00. Following the completion of the sale, the insider now directly owns 106,946 shares in the company, valued at approximately $2,315,380.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Donald Douglas Patteson, Jr. bought 4,000 shares of the stock in a transaction on Monday, August 20th. The stock was purchased at an average price of $23.25 per share, with a total value of $93,000.00. Following the completion of the acquisition, the director now directly owns 51,431 shares in the company, valued at approximately $1,195,770.75. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company’s stock.
Several equities analysts have recently weighed in on CSV shares. ValuEngine downgraded Carriage Services from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. TheStreet downgraded Carriage Services from a “b-” rating to a “c+” rating in a research report on Thursday, August 30th. Finally, Barrington Research reissued a “buy” rating and set a $32.00 target price on shares of Carriage Services in a research report on Thursday, August 2nd.
Shares of Carriage Services stock opened at $20.81 on Tuesday. The firm has a market capitalization of $412.75 million, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 1.07 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.36 and a current ratio of 2.62. Carriage Services, Inc. has a 52 week low of $20.42 and a 52 week high of $28.96.
Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.15). The business had revenue of $63.00 million during the quarter, compared to the consensus estimate of $69.16 million. Carriage Services had a net margin of 14.40% and a return on equity of 12.49%. On average, equities analysts expect that Carriage Services, Inc. will post 1.34 EPS for the current fiscal year.
Carriage Services Company Profile
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.
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