Carriage Services, Inc. $CSV Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. lowered its position in shares of Carriage Services, Inc. (NYSE:CSV) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,155 shares of the company’s stock after selling 2,210 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Carriage Services were worth $3,621,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CSV. GAMMA Investing LLC grew its holdings in Carriage Services by 8,246.2% during the first quarter. GAMMA Investing LLC now owns 3,255 shares of the company’s stock worth $126,000 after acquiring an additional 3,216 shares during the period. SG Americas Securities LLC grew its holdings in Carriage Services by 172.7% during the first quarter. SG Americas Securities LLC now owns 21,934 shares of the company’s stock worth $850,000 after acquiring an additional 13,892 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Carriage Services by 12.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 168,079 shares of the company’s stock worth $6,513,000 after acquiring an additional 18,130 shares during the period. New York State Teachers Retirement System acquired a new position in Carriage Services during the first quarter worth about $48,000. Finally, Linden Thomas Advisory Services LLC grew its holdings in Carriage Services by 12.0% during the first quarter. Linden Thomas Advisory Services LLC now owns 30,646 shares of the company’s stock worth $1,188,000 after acquiring an additional 3,289 shares during the period. 66.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CSV shares. Raymond James Financial started coverage on Carriage Services in a research note on Wednesday, October 1st. They set an “outperform” rating and a $60.00 price objective for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Carriage Services in a research note on Wednesday, October 8th. B. Riley reissued a “buy” rating and set a $65.00 price objective (up from $52.00) on shares of Carriage Services in a research note on Friday, August 8th. Wall Street Zen lowered Carriage Services from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Zacks Research lowered Carriage Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Insider Activity at Carriage Services

In other news, VP Shane Pudenz sold 13,027 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $44.36, for a total value of $577,877.72. Following the completion of the sale, the vice president owned 14,930 shares of the company’s stock, valued at $662,294.80. This trade represents a 46.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by company insiders.

Carriage Services Stock Performance

Shares of Carriage Services stock opened at $44.71 on Wednesday. The stock has a market cap of $701.95 million, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.89 and a beta of 0.86. The business has a fifty day simple moving average of $44.85 and a 200-day simple moving average of $43.52. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.72. Carriage Services, Inc. has a 12 month low of $30.80 and a 12 month high of $49.41.

Carriage Services (NYSE:CSV) last issued its earnings results on Wednesday, August 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $102.15 million during the quarter, compared to analysts’ expectations of $101.36 million. Carriage Services had a return on equity of 21.63% and a net margin of 12.85%. On average, sell-side analysts anticipate that Carriage Services, Inc. will post 2.5 EPS for the current fiscal year.

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.