Carriage Services (NYSE:CSV) Reaches New 1-Year High – Here’s What Happened

Shares of Carriage Services, Inc. (NYSE:CSV) reached a new 52-week high during trading on Thursday . The stock traded as high as $42.67 and last traded at $42.02, with a volume of 14423 shares traded. The stock had previously closed at $41.73.

Analysts Set New Price Targets

Separately, Barrington Research upped their target price on shares of Carriage Services from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th.

Carriage Services Stock Down 1.6 %

The business has a 50-day moving average of $40.06 and a 200 day moving average of $35.42. The company has a market capitalization of $622.50 million, a PE ratio of 18.34, a P/E/G ratio of 0.99 and a beta of 0.93. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59.

Carriage Services (NYSE:CSV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.19. The business had revenue of $100.69 million for the quarter, compared to the consensus estimate of $93.49 million. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. During the same quarter in the previous year, the company posted $0.33 EPS. Equities research analysts predict that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Monday, February 3rd. Carriage Services’s payout ratio is 20.18%.

Insider Transactions at Carriage Services

In related news, VP Paul Donald Elliott sold 5,000 shares of the stock in a transaction dated 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 directly owns 34,166 shares of the company’s stock, valued at $1,290,791.48. This represents a 12.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Carriage Services during the third quarter worth $4,310,000. Kingsview Wealth Management LLC bought a new position in Carriage Services in the third quarter worth about $2,151,000. JPMorgan Chase & Co. raised its holdings in Carriage Services by 94.7% in the third quarter. JPMorgan Chase & Co. now owns 118,891 shares of the company’s stock worth $3,903,000 after purchasing an additional 57,821 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Carriage Services during the fourth quarter valued at about $2,272,000. Finally, NFJ Investment Group LLC bought a new stake in shares of Carriage Services in the 3rd quarter valued at about $1,784,000. Hedge funds and other institutional investors own 66.46% 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.