Renaissance Technologies LLC Grows Stock Position in Carriage Services, Inc. (NYSE:CSV)

Renaissance Technologies LLC increased its position in shares of Carriage Services, Inc. (NYSE:CSV) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 616,500 shares of the company’s stock after buying an additional 46,700 shares during the quarter. Renaissance Technologies LLC owned about 4.07% of Carriage Services worth $16,547,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Carriage Services by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,475 shares of the company’s stock valued at $284,000 after purchasing an additional 746 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of Carriage Services in the first quarter worth $27,000. nVerses Capital LLC grew its stake in shares of Carriage Services by 550.0% in the second quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $35,000 after acquiring an additional 1,100 shares in the last quarter. Parallel Advisors LLC acquired a new position in shares of Carriage Services in the fourth quarter worth $38,000. Finally, Rhumbline Advisers grew its stake in shares of Carriage Services by 8.4% in the second quarter. Rhumbline Advisers now owns 20,755 shares of the company’s stock worth $557,000 after acquiring an additional 1,616 shares in the last quarter. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Insider Activity at Carriage Services

In related news, CEO Carlos R. Quezada purchased 2,000 shares of Carriage Services stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $29.44 per share, with a total value of $58,880.00. Following the completion of the transaction, the chief executive officer now directly owns 60,061 shares in the company, valued at $1,768,195.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Carlos R. Quezada purchased 2,000 shares of Carriage Services stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $29.44 per share, with a total value of $58,880.00. Following the completion of the transaction, the chief executive officer now directly owns 60,061 shares in the company, valued at $1,768,195.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Shawn R. Phillips sold 5,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $29.73, for a total transaction of $148,650.00. Following the completion of the sale, the vice president now directly owns 97,801 shares of the company’s stock, valued at $2,907,623.73. The disclosure for this sale can be found here. Insiders sold a total of 13,544 shares of company stock valued at $401,074 over the last ninety days. Insiders own 12.10% of the company’s stock.

Carriage Services Price Performance

Carriage Services stock opened at $32.93 on Friday. The stock has a market cap of $499.38 million, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. The company has a fifty day simple moving average of $31.46 and a 200-day simple moving average of $28.11. Carriage Services, Inc. has a 12-month low of $18.06 and a 12-month high of $35.00. The company has a current ratio of 0.85, a quick ratio of 0.69 and a debt-to-equity ratio of 2.14.

Carriage Services (NYSE:CSV) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.10. The business had revenue of $102.32 million during the quarter, compared to analysts’ expectations of $94.40 million. Carriage Services had a net margin of 7.47% and a return on equity of 21.99%. Equities analysts expect that Carriage Services, Inc. will post 2.34 EPS for the current fiscal year.

Carriage Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 5th were given a $0.1125 dividend. The ex-dividend date was Monday, August 5th. This represents a $0.45 dividend on an annualized basis and a yield of 1.37%. Carriage Services’s dividend payout ratio (DPR) is presently 22.17%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CSV shares. Roth Mkm restated a “buy” rating and issued a $40.00 price target (up previously from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd. Barrington Research reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Carriage Services in a research report on Tuesday, May 28th.

Carriage Services Profile

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.