Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Carriage Services, Inc. (NYSE:CSV)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Carriage Services, Inc. (NYSE:CSV) by 141.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,379 shares of the company’s stock after purchasing an additional 15,433 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Carriage Services were worth $866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Versor Investments LP acquired a new position in Carriage Services during the 3rd quarter worth approximately $259,000. Principal Financial Group Inc. acquired a new position in Carriage Services during the 3rd quarter worth approximately $232,000. Allspring Global Investments Holdings LLC acquired a new position in Carriage Services during the 3rd quarter worth approximately $4,310,000. SG Americas Securities LLC acquired a new position in Carriage Services during the 3rd quarter worth approximately $207,000. Finally, Point72 DIFC Ltd lifted its stake in shares of Carriage Services by 613.0% in the second quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock valued at $50,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 66.46% of the company’s stock.

Insider Transactions at Carriage Services

In other news, VP Paul Donald Elliott sold 5,000 shares of Carriage Services stock in a transaction dated Tuesday, November 5th. The shares were 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 in the company, valued at $1,290,791.48. The trade was a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CSV shares. Barrington Research increased their target price on shares of Carriage Services from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Roth Mkm restated 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.

Carriage Services Price Performance

Shares of NYSE CSV opened at $40.50 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03. The company’s 50-day moving average price is $34.65 and its 200 day moving average price is $31.18. Carriage Services, Inc. has a 52 week low of $22.05 and a 52 week high of $40.83. The stock has a market cap of $616.41 million, a price-to-earnings ratio of 18.02, a PEG ratio of 1.08 and a beta of 0.91.

Carriage Services (NYSE:CSV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.45 by $0.19. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The business had revenue of $100.69 million for the quarter, compared to analyst estimates of $93.49 million. During the same period in the prior year, the business earned $0.33 earnings per share. As a group, research analysts forecast that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, November 4th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.11%. Carriage Services’s dividend payout ratio (DPR) is 20.18%.

Carriage Services Profile

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.