Carriage Services, Inc. (NYSE:CSV) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Carriage Services, Inc. (NYSE:CSV) by 141.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,379 shares of the company’s stock after acquiring an additional 15,433 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of Carriage Services worth $866,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CSV. nVerses Capital LLC grew its stake in shares of Carriage Services by 550.0% during the second quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $35,000 after purchasing an additional 1,100 shares in the last quarter. Point72 DIFC Ltd boosted its position in shares of Carriage Services by 613.0% during the 2nd quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock worth $50,000 after acquiring an additional 1,600 shares in the last quarter. Perritt Capital Management Inc boosted its position in shares of Carriage Services by 5,001.0% during the 2nd quarter. Perritt Capital Management Inc now owns 5,101 shares of the company’s stock worth $137,000 after acquiring an additional 5,001 shares in the last quarter. EMC Capital Management acquired a new position in shares of Carriage Services during the 1st quarter worth about $168,000. Finally, XTX Topco Ltd acquired a new position in shares of Carriage Services during the 2nd quarter worth about $207,000. 66.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CSV. Barrington Research upped their price objective on Carriage Services from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Roth Mkm reaffirmed a “buy” rating and set a $40.00 price objective (up from $32.00) on shares of Carriage Services in a research report on Friday, August 2nd.

Carriage Services Stock Up 1.3 %

Carriage Services stock opened at $40.50 on Thursday. Carriage Services, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $40.83. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.59 and a current ratio of 0.72. The company has a market capitalization of $616.41 million, a P/E ratio of 18.02, a PEG ratio of 1.08 and a beta of 0.91. The stock has a 50-day simple moving average of $34.65 and a 200-day simple moving average of $31.18.

Carriage Services (NYSE:CSV) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share 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 the consensus estimate of $93.49 million. During the same period in the previous year, the business earned $0.33 EPS. Equities research analysts expect that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, November 4th. Carriage Services’s payout ratio is currently 20.18%.

Insider Activity

In related news, VP Paul Donald Elliott sold 5,000 shares of the stock in a transaction on 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 sale, the vice president now directly owns 34,166 shares of the company’s stock, valued at $1,290,791.48. This trade represents a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.30% of the company’s stock.

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.