Bank of America Corp DE Has $4.13 Million Holdings in Carriage Services, Inc. (CSV)

Bank of America Corp DE boosted its position in shares of Carriage Services, Inc. (NYSE:CSV) by 38.0% during the second quarter, HoldingsChannel.com reports. The firm owned 168,075 shares of the company’s stock after buying an additional 46,264 shares during the quarter. Bank of America Corp DE’s holdings in Carriage Services were worth $4,125,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN grew its position in Carriage Services by 13.8% during the 1st quarter. Wells Fargo & Company MN now owns 78,120 shares of the company’s stock worth $2,161,000 after acquiring an additional 9,497 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Carriage Services by 3.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 76,456 shares of the company’s stock worth $2,115,000 after buying an additional 2,296 shares during the period. BlackRock Inc. lifted its holdings in Carriage Services by 8.4% during the 1st quarter. BlackRock Inc. now owns 1,293,398 shares of the company’s stock worth $35,775,000 after buying an additional 100,187 shares during the period. Millennium Management LLC lifted its holdings in Carriage Services by 1,199.3% during the 1st quarter. Millennium Management LLC now owns 168,576 shares of the company’s stock worth $4,663,000 after buying an additional 155,602 shares during the period. Finally, Fenimore Asset Management Inc. lifted its holdings in Carriage Services by 6.7% during the 2nd quarter. Fenimore Asset Management Inc. now owns 359,290 shares of the company’s stock worth $8,821,000 after buying an additional 22,425 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Several research analysts have commented on CSV shares. TheStreet downgraded Carriage Services from a “b-” rating to a “c+” rating in a report on Thursday, August 30th. ValuEngine downgraded Carriage Services from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Finally, Barrington Research reaffirmed a “buy” rating and set a $32.00 target price on shares of Carriage Services in a report on Thursday, August 2nd.

Shares of CSV opened at $19.06 on Thursday. The stock has a market cap of $367.16 million, a price-to-earnings ratio of 13.71, a P/E/G ratio of 0.94 and a beta of 0.43. Carriage Services, Inc. has a 12 month low of $18.54 and a 12 month high of $28.96. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.36 and a current ratio of 2.62.

Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.15). The business had revenue of $63.00 million during the quarter, compared to analyst estimates of $69.16 million. Carriage Services had a net margin of 14.40% and a return on equity of 12.49%. On average, equities research analysts forecast that Carriage Services, Inc. will post 1.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 13th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, November 9th. Carriage Services’s dividend payout ratio is 21.58%.

In other news, insider Shawn R. Phillips sold 6,500 shares of the business’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $21.65, for a total value of $140,725.00. Following the transaction, the insider now directly owns 106,946 shares of the company’s stock, valued at approximately $2,315,380.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald Douglas Patteson, Jr. acquired 4,000 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was acquired at an average cost of $23.25 per share, for a total transaction of $93,000.00. Following the completion of the purchase, the director now directly owns 51,431 shares in the company, valued at $1,195,770.75. The disclosure for this purchase can be found here. 13.60% of the stock is owned by insiders.

Carriage Services Company Profile

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.

Further Reading: Understanding Market Liquidity

Want to see what other hedge funds are holding CSV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carriage Services, Inc. (NYSE:CSV).

Institutional Ownership by Quarter for Carriage Services (NYSE:CSV)

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