Falcon Point Capital LLC Has $1.94 Million Position in Carriage Services, Inc. (NYSE:CSV)
Falcon Point Capital LLC raised its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 72,073 shares of the company’s stock after buying an additional 304 shares during the period. Falcon Point Capital LLC’s holdings in Carriage Services were worth $1,943,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in Carriage Services by 0.8% in the first quarter. Legal & General Group Plc now owns 4,044 shares of the company’s stock valued at $110,000 after buying an additional 31 shares during the period. Teachers Advisors LLC boosted its position in Carriage Services by 2.8% in the first quarter. Teachers Advisors LLC now owns 33,496 shares of the company’s stock valued at $908,000 after buying an additional 904 shares during the period. Cadence Capital Management LLC acquired a new position in Carriage Services during the first quarter valued at about $1,089,000. American International Group Inc. boosted its position in Carriage Services by 7.1% in the first quarter. American International Group Inc. now owns 9,107 shares of the company’s stock valued at $247,000 after buying an additional 606 shares during the period. Finally, Virginia Retirement Systems ET AL boosted its position in Carriage Services by 12.0% in the first quarter. Virginia Retirement Systems ET AL now owns 11,200 shares of the company’s stock valued at $304,000 after buying an additional 1,200 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.
Carriage Services, Inc. (CSV) opened at 24.22 on Friday. The company has a market capitalization of $404.96 million, a PE ratio of 20.51 and a beta of 0.92. The company has a 50-day moving average price of $25.93 and a 200-day moving average price of $26.53. Carriage Services, Inc. has a one year low of $22.53 and a one year high of $29.11.
Carriage Services (NYSE:CSV) last posted its earnings results on Wednesday, July 26th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $63.87 million for the quarter, compared to analyst estimates of $64.35 million. Carriage Services had a net margin of 8.35% and a return on equity of 15.25%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Analysts expect that Carriage Services, Inc. will post $1.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.83%. Carriage Services’s dividend payout ratio is presently 16.95%.
Several research firms recently issued reports on CSV. Zacks Investment Research raised Carriage Services from a “sell” rating to a “hold” rating in a research report on Friday, April 28th. Jefferies Group LLC reissued a “hold” rating and set a $82.00 price target on shares of Carriage Services in a report on Monday, June 12th. Finally, BidaskClub cut Carriage Services from a “hold” rating to a “sell” rating in a report on Friday, July 28th.
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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