Carriage Services, Inc. (NYSE:CSV) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its position in shares of Carriage Services, Inc. (NYSE:CSV) by 1,074.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,697 shares of the company’s stock after purchasing an additional 4,297 shares during the period. Point72 Asset Management L.P.’s holdings in Carriage Services were worth $154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC lifted its stake in Carriage Services by 8.2% during the 2nd quarter. Renaissance Technologies LLC now owns 616,500 shares of the company’s stock worth $16,547,000 after acquiring an additional 46,700 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Carriage Services by 201.5% during the second quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock worth $6,166,000 after purchasing an additional 153,538 shares during the period. Bank of New York Mellon Corp increased its stake in Carriage Services by 10.7% during the second quarter. Bank of New York Mellon Corp now owns 141,262 shares of the company’s stock worth $3,791,000 after purchasing an additional 13,598 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Carriage Services during the third quarter worth about $4,310,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Carriage Services by 6.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 82,238 shares of the company’s stock valued at $2,700,000 after purchasing an additional 4,850 shares during the period. 66.46% of the stock is currently owned by hedge funds and other institutional investors.

Carriage Services Trading Up 2.0 %

NYSE:CSV opened at $40.54 on Friday. Carriage Services, Inc. has a 12-month low of $22.84 and a 12-month high of $40.91. The firm has a market cap of $617.02 million, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03. The stock has a fifty day moving average price of $36.59 and a 200 day moving average price of $32.34.

Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.19. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. The business had revenue of $100.69 million during the quarter, compared to analysts’ expectations of $93.49 million. During the same quarter last year, the business posted $0.33 EPS. Sell-side analysts anticipate that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, November 4th. Carriage Services’s dividend payout ratio (DPR) is presently 20.18%.

Analyst Ratings Changes

Separately, Barrington Research upped their target price on shares of Carriage Services from $39.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st.

Insider Buying and Selling at Carriage Services

In other news, VP Paul Donald Elliott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total transaction of $188,900.00. Following the completion of the transaction, the vice president now directly owns 34,166 shares of the company’s stock, valued at approximately $1,290,791.48. This represents a 12.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.10% of the company’s stock.

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.