Hillsdale Investment Management Inc. Raises Stake in Carriage Services, Inc. (NYSE:CSV)

Hillsdale Investment Management Inc. increased its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 61,486 shares of the company’s stock after buying an additional 800 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Carriage Services were worth $2,450,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CSV. Geode Capital Management LLC grew its position in shares of Carriage Services by 4.4% during the 3rd 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 lifted its stake in Carriage Services by 14.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 149,949 shares of the company’s stock valued at $5,975,000 after purchasing an additional 18,661 shares during the last quarter. JPMorgan Chase & Co. increased its position in Carriage Services by 94.7% in the third quarter. JPMorgan Chase & Co. now owns 118,891 shares of the company’s stock worth $3,903,000 after buying an additional 57,821 shares during the last quarter. Jacobs Levy Equity Management Inc. raised 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 buying an additional 4,850 shares during the period. Finally, Praetorian PR LLC lifted its position in shares of Carriage Services by 15.2% during the 3rd quarter. Praetorian PR LLC now owns 80,000 shares of the company’s stock valued at $2,626,000 after buying an additional 10,578 shares during the last quarter. Institutional investors own 66.46% of the company’s stock.

Carriage Services Trading Down 0.2 %

NYSE:CSV opened at $38.25 on Friday. Carriage Services, Inc. has a 1 year low of $23.20 and a 1 year high of $42.75. The stock’s fifty day moving average price is $39.95 and its two-hundred day moving average price is $37.59. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59. The company has a market cap of $598.68 million, a P/E ratio of 17.15, a P/E/G ratio of 0.97 and a beta of 0.91.

Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 23.52% and a net margin of 8.57%. During the same quarter in the prior year, the firm posted $0.77 EPS. As a group, analysts expect that Carriage Services, Inc. will post 2.5 EPS for the current year.

Carriage Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 3rd were issued a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Monday, February 3rd. Carriage Services’s dividend payout ratio (DPR) is presently 21.43%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CSV shares. Barrington Research reissued an “outperform” rating and issued a $50.00 price objective on shares of Carriage Services in a report on Friday, February 28th. StockNews.com downgraded shares of Carriage Services from a “buy” rating to a “hold” rating in a research note 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.