Wells Fargo & Company MN cut its holdings in shares of Carriage Services, Inc. (NYSE:CSV) by 15.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 72,862 shares of the company’s stock after selling 13,157 shares during the quarter. Wells Fargo & Company MN’s holdings in Carriage Services were worth $1,865,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CSV. Schwab Charles Investment Management Inc. boosted its position in Carriage Services by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,483 shares of the company’s stock worth $1,550,000 after buying an additional 489 shares during the period. Rhumbline Advisers lifted its position in shares of Carriage Services by 7.4% in the 2nd quarter. Rhumbline Advisers now owns 18,011 shares of the company’s stock worth $486,000 after purchasing an additional 1,245 shares during the period. Alliancebernstein L.P. acquired a new position in shares of Carriage Services in the 2nd quarter worth approximately $229,000. Teachers Advisors LLC lifted its position in shares of Carriage Services by 15.6% in the 2nd quarter. Teachers Advisors LLC now owns 38,724 shares of the company’s stock worth $1,044,000 after purchasing an additional 5,228 shares during the period. Finally, Acrospire Investment Management LLC lifted its position in shares of Carriage Services by 820.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,263 shares of the company’s stock worth $115,000 after purchasing an additional 3,800 shares during the period. Institutional investors and hedge funds own 89.28% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Carriage Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th.

Carriage Services, Inc. (NYSE:CSV) opened at $26.44 on Thursday. The stock has a market cap of $429.98, a P/E ratio of 25.92, a PEG ratio of 0.99 and a beta of 0.95. Carriage Services, Inc. has a 1 year low of $23.15 and a 1 year high of $28.96. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.70 and a quick ratio of 0.54.

Carriage Services (NYSE:CSV) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.12). The firm had revenue of $61.10 million during the quarter, compared to analyst estimates of $62.86 million. Carriage Services had a return on equity of 13.54% and a net margin of 7.29%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. equities research analysts forecast that Carriage Services, Inc. will post 1.39 earnings per share for the current fiscal year.

Carriage Services announced that its board has authorized a stock repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $15.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

In related news, Director James Raymond Schenck acquired 1,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was bought at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the purchase, the director now directly owns 5,061 shares of the company’s stock, valued at approximately $129,156.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Mark R. Bruce sold 3,000 shares of Carriage Services stock in a transaction on Monday, December 11th. The shares were sold at an average price of $26.40, for a total transaction of $79,200.00. The disclosure for this sale can be found here. Insiders sold a total of 4,241 shares of company stock worth $111,354 in the last 90 days. Corporate insiders own 13.40% of the company’s stock.

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Carriage Services Profile

Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.

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Institutional Ownership by Quarter for Carriage Services (NYSE:CSV)

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