Millennium Management LLC reduced its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,659 shares of the company’s stock after selling 3,917 shares during the quarter. Millennium Management LLC’s holdings in Carriage Services were worth $4,042,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Carriage Services by 3.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 76,456 shares of the company’s stock worth $2,115,000 after purchasing an additional 2,296 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Carriage Services by 1.3% during the second quarter. Russell Investments Group Ltd. now owns 194,711 shares of the company’s stock worth $4,780,000 after purchasing an additional 2,487 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Carriage Services by 18.8% during the second quarter. First Trust Advisors LP now owns 16,802 shares of the company’s stock worth $412,000 after purchasing an additional 2,658 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Carriage Services by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 115,076 shares of the company’s stock worth $2,825,000 after purchasing an additional 3,312 shares during the last quarter. Finally, Cadence Capital Management LLC grew its holdings in shares of Carriage Services by 12.1% during the second quarter. Cadence Capital Management LLC now owns 55,998 shares of the company’s stock worth $1,375,000 after purchasing an additional 6,051 shares during the last quarter. Hedge funds and other institutional investors own 78.73% of the company’s stock.
Several brokerages have recently commented on CSV. TheStreet cut Carriage Services from a “b-” rating to a “c+” rating in a report on Thursday, August 30th. ValuEngine cut Carriage Services from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Finally, Barrington Research restated a “buy” rating and set a $32.00 target price on shares of Carriage Services in a report on Thursday, August 2nd.
In other news, Director Donald Douglas Patteson, Jr. purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average price of $23.25 per share, for a total transaction of $93,000.00. Following the completion of the acquisition, the director now directly owns 51,431 shares in the company, valued at $1,195,770.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn R. Phillips sold 6,500 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $21.65, for a total value of $140,725.00. Following the completion of the transaction, the insider now owns 106,946 shares in the company, valued at approximately $2,315,380.90. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.
Carriage Services stock opened at $20.23 on Friday. The stock has a market capitalization of $395.51 million, a P/E ratio of 14.24, a PEG ratio of 1.03 and a beta of 0.43. Carriage Services, Inc. has a 12-month low of $20.03 and a 12-month high of $28.96. The company has a current ratio of 2.62, a quick ratio of 2.36 and a debt-to-equity ratio of 1.49.
Carriage Services (NYSE:CSV) last posted its quarterly earnings results on Wednesday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.15). The firm 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%. As a group, equities analysts predict that Carriage Services, Inc. will post 1.34 earnings per share for the current fiscal year.
About Carriage Services
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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