State Board of Administration of Florida Retirement System Acquires New Position in Carriage Services Inc. (CSV)
State Board of Administration of Florida Retirement System acquired a new stake in Carriage Services Inc. (NYSE:CSV) during the second quarter, Holdings Channel reports. The fund acquired 8,620 shares of the company’s stock, valued at approximately $204,000. State Board of Administration of Florida Retirement System owned 0.05% of Carriage Services at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Capital Planning Advisors LLC acquired a new position in shares of Carriage Services during the second quarter valued at $215,000. 1st Global Advisors Inc. boosted its position in shares of Carriage Services by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 12,164 shares of the company’s stock valued at $288,000 after buying an additional 73 shares during the period. Adirondack Research & Management Inc. acquired a new position in shares of Carriage Services during the first quarter valued at $330,000. Eqis Capital Management Inc. boosted its position in shares of Carriage Services by 3.6% in the second quarter. Eqis Capital Management Inc. now owns 14,479 shares of the company’s stock valued at $343,000 after buying an additional 506 shares during the period. Finally, Boothbay Fund Management LLC boosted its position in shares of Carriage Services by 36.4% in the first quarter. Boothbay Fund Management LLC now owns 17,445 shares of the company’s stock valued at $377,000 after buying an additional 4,655 shares during the period. Hedge funds and other institutional investors own 77.51% of the company’s stock.
Carriage Services Inc. (NYSE:CSV) traded up 0.33% during midday trading on Wednesday, reaching $24.00. 14,285 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $23.47 and its 200 day moving average is $23.38. Carriage Services Inc. has a 52 week low of $19.03 and a 52 week high of $25.96. The firm has a market capitalization of $399.41 million, a price-to-earnings ratio of 21.45 and a beta of 0.85.
Carriage Services (NYSE:CSV) last issued its earnings results on Tuesday, July 26th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.02. Carriage Services had a return on equity of 16.56% and a net margin of 8.01%. The firm had revenue of $61.87 million for the quarter, compared to analysts’ expectations of $61.34 million. During the same period last year, the firm earned $0.34 earnings per share. Carriage Services’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that Carriage Services Inc. will post $1.70 earnings per share for the current year.
CSV has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Carriage Services from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. Barrington Research increased their price objective on shares of Carriage Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 22nd.
Carriage Services Company Profile
Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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