Charles Schwab Investment Management Inc. Sells 30,500 Shares of Carriage Services, Inc. (NYSE:CSV)

Charles Schwab Investment Management Inc. decreased its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 18.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,663 shares of the company’s stock after selling 30,500 shares during the period. Charles Schwab Investment Management Inc. owned 0.91% of Carriage Services worth $5,526,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Carriage Services by 4.4% during the third quarter. Geode Capital Management LLC now owns 314,864 shares of the company’s stock worth $10,339,000 after acquiring an additional 13,126 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Carriage Services by 14.2% during 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 last quarter. Rhumbline Advisers lifted its position in Carriage Services by 60.8% during the 4th quarter. Rhumbline Advisers now owns 32,226 shares of the company’s stock valued at $1,284,000 after purchasing an additional 12,180 shares during the period. Penn Mutual Asset Management bought a new position in shares of Carriage Services in the 3rd quarter valued at about $433,000. Finally, NFJ Investment Group LLC bought a new position in Carriage Services in the third quarter valued at approximately $1,784,000. Institutional investors own 66.46% of the company’s stock.

Carriage Services Stock Down 0.9 %

NYSE:CSV opened at $38.10 on Wednesday. Carriage Services, Inc. has a 1 year low of $23.20 and a 1 year high of $42.75. The stock has a 50-day moving average price of $39.90 and a two-hundred day moving average price of $37.70. The stock has a market cap of $596.27 million, a price-to-earnings ratio of 17.09, a PEG ratio of 0.97 and a beta of 0.91. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.51 by $0.11. The business had revenue of $97.70 million for the quarter, compared to analysts’ expectations of $96.72 million. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. During the same period in the previous year, the firm posted $0.77 EPS. As a group, equities analysts expect 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 was paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd were paid a dividend of $0.1125 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.45 annualized dividend and a dividend yield of 1.18%. Carriage Services’s dividend payout ratio is currently 21.43%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CSV shares. Barrington Research restated an “outperform” rating and set a $50.00 target price on shares of Carriage Services in a research report on Friday, February 28th. StockNews.com lowered shares of Carriage Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th.

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.