Rhumbline Advisers Acquires 12,180 Shares of Carriage Services, Inc. (NYSE:CSV)

Rhumbline Advisers lifted its holdings in Carriage Services, Inc. (NYSE:CSV) by 60.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,226 shares of the company’s stock after acquiring an additional 12,180 shares during the period. Rhumbline Advisers owned 0.21% of Carriage Services worth $1,284,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CSV. Geode Capital Management LLC raised its stake in shares of Carriage Services by 4.4% in the third quarter. Geode Capital Management LLC now owns 314,864 shares of the company’s stock valued at $10,339,000 after acquiring an additional 13,126 shares during the period. Allspring Global Investments Holdings LLC raised its position in Carriage Services by 14.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 149,949 shares of the company’s stock worth $5,975,000 after purchasing an additional 18,661 shares during the period. Penn Mutual Asset Management bought a new stake in Carriage Services in the third quarter worth about $433,000. NFJ Investment Group LLC purchased a new position in shares of Carriage Services during the third quarter valued at approximately $1,784,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Carriage Services during the third quarter valued at approximately $2,151,000. 66.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CSV has been the subject of a number of recent analyst reports. Barrington Research restated an “outperform” rating and set a $50.00 price objective on shares of Carriage Services in a report on Friday, February 28th. StockNews.com raised shares of Carriage Services from a “hold” rating to a “buy” rating in a research note on Monday.

Carriage Services Stock Performance

Carriage Services stock opened at $38.51 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.59 and a current ratio of 0.72. The company has a market capitalization of $586.24 million, a PE ratio of 17.27, a P/E/G ratio of 0.97 and a beta of 0.92. The company has a 50 day moving average price of $40.29 and a 200-day moving average price of $37.09. Carriage Services, Inc. has a fifty-two week low of $23.20 and a fifty-two week high of $42.75.

Carriage Services (NYSE:CSV) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.11. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The company had revenue of $97.70 million during the quarter, compared to analyst estimates of $96.72 million. During the same period in the prior year, the firm earned $0.77 earnings per share. As a group, equities analysts forecast that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were paid a $0.1125 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.45 annualized dividend and a yield of 1.17%. Carriage Services’s dividend payout ratio (DPR) is 21.43%.

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.