Hsbc Holdings PLC Increases Stake in Carriage Services, Inc. (NYSE:CSV)

Hsbc Holdings PLC lifted its stake in Carriage Services, Inc. (NYSE:CSV) by 19.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,371 shares of the company’s stock after buying an additional 1,857 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Carriage Services worth $303,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CSV. BNP Paribas Financial Markets increased its holdings in Carriage Services by 741.8% in the 1st quarter. BNP Paribas Financial Markets now owns 87,879 shares of the company’s stock valued at $2,376,000 after acquiring an additional 77,439 shares during the last quarter. GSA Capital Partners LLP raised its position in Carriage Services by 202.9% during the 1st quarter. GSA Capital Partners LLP now owns 51,023 shares of the company’s stock valued at $1,380,000 after purchasing an additional 34,178 shares in the last quarter. Harbert Fund Advisors Inc. increased its position in Carriage Services by 31.5% during the 4th quarter. Harbert Fund Advisors Inc. now owns 208,497 shares of the company’s stock valued at $5,215,000 after purchasing an additional 50,000 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in Carriage Services during the first quarter worth $1,517,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Carriage Services by 201.5% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Carriage Services Price Performance

Shares of NYSE:CSV opened at $31.73 on Friday. The company has a market cap of $481.19 million, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Carriage Services, Inc. has a twelve month low of $18.06 and a twelve 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. The company’s 50 day moving average is $31.97 and its 200 day moving average is $28.50.

Carriage Services (NYSE:CSV) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.53 by $0.10. The company had revenue of $102.32 million during the quarter, compared to analyst estimates of $94.40 million. Carriage Services had a net margin of 7.47% and a return on equity of 21.99%. On average, sell-side analysts forecast that Carriage Services, Inc. will post 2.34 EPS for the current 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 paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Monday, August 5th. Carriage Services’s dividend payout ratio is presently 22.17%.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reissued a “buy” rating and issued a $40.00 price target (up previously from $32.00) on shares of Carriage Services in a report on Friday, August 2nd.

Insider Buying and Selling

In related news, CEO Carlos R. Quezada acquired 2,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $29.44 per share, with a total value of $58,880.00. Following the completion of the purchase, the chief executive officer now owns 60,061 shares of the company’s stock, valued at approximately $1,768,195.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Shawn R. Phillips sold 5,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $29.73, for a total value of $148,650.00. Following the sale, the vice president now directly owns 97,801 shares in the company, valued at approximately $2,907,623.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Carlos R. Quezada bought 2,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $29.44 per share, with a total value of $58,880.00. Following the purchase, the chief executive officer now owns 60,061 shares of the company’s stock, valued at $1,768,195.84. The disclosure for this purchase can be found here. 12.10% of the stock is owned by company insiders.

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.