Allspring Global Investments Holdings LLC Increases Investment in Carriage Services by Over 2000%
April 14, 2023
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Carriage Services ($NYSE:CSV), Inc. is a publicly traded death care company providing funeral services and merchandise in the United States. The increase in investment comes in light of the company’s promising results over the past few months. Carriage Services, Inc. has seen impressive growth with their expansion of their network of funeral homes in the United States.
The company’s stock has also seen an increase in value due to its strong market performance. As the death care industry appears to be on a strong growth trajectory, Allspring Global Investments Holdings LLC is confident that its investment in Carriage Services, Inc. will continue to yield high returns for the foreseeable future.
Price History
On Tuesday, CARRIAGE SERVICES saw a 0.7% increase in their stock price as it opened at $28.8 and closed at $28.9, up from its last closing price of $28.7. The increased capital from their investors will allow the company to pursue new projects and initiatives, as well as create more job opportunities for those in the industry. With the rise in investment, CARRIAGE SERVICES is now well-positioned to take advantage of the current market climate and continue to expand further. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Carriage Services. More…
| Total Revenues | Net Income | Net Margin |
| 370.17 | 41.35 | 10.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carriage Services. More…
| Operations | Investing | Financing |
| 61.02 | -52.49 | -8.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Carriage Services. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.19k | 1.06k | 8.94 |
Key Ratios Snapshot
Some of the financial key ratios for Carriage Services are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.5% | 16.1% | 22.4% |
| FCF Margin | ROE | ROA |
| 9.4% | 39.0% | 4.4% |
Analysis
GoodWhale has conducted an analysis of CARRIAGE SERVICES‘ wellbeing, and has determined that it is a medium risk investment in terms of its financial and business aspects. In particular, we have identified two risk warnings in its income sheet and balance sheet. To further investigate the company’s well-being, please visit GoodWhale.com. There, you can review our findings and make an informed decision about investing with this company. More…
Peers
Carriage Services Inc. is a leading provider of funeral and cemetery services and products in the United States. Carriage operates through two segments: Funeral Home Operations and Cemetery Operations. The company offers a range of services, including traditional funerals, cremations, memorial services, advance funeral planning, and other related services. Carriage also owns and operates a number of cemeteries. The company’s competitors include StoneMor Inc, Frontdoor Inc, and E-Home Household Service Holdings Ltd.
– StoneMor Inc ($NYSE:STON)
The market cap for StoneMor Inc. as of 2022 is 409.7M. The company’s return on equity is 5.44%. StoneMor Inc. is a provider of deathcare products and services in the United States and Puerto Rico. The company operates through two segments, Funeral Homes and Cemeteries.
– Frontdoor Inc ($NASDAQ:FTDR)
Frontdoor Inc is a provider of home service plans. The company operates in the United States and offers home service plans that cover repair and replacement of systems and appliances in the home. The company was founded in 2006 and is headquartered in Memphis, Tennessee.
– E-Home Household Service Holdings Ltd ($NASDAQ:EJH)
E-Home Household Service Holdings Ltd is a domestic services company in China. It offers a range of services including cleaning, laundry, and grocery delivery. The company has a market cap of 7.57M as of 2022 and a Return on Equity of -1.18%.
Summary
Carriage Services, Inc. (CARR) has seen notable investment activity over the past quarter, with Allspring Global Investments Holdings LLC increasing its stake by 2169.2%. This increase in investment reflects the company’s potential to perform well in the short- and long-term, as investors seek to benefit from stock appreciation and related returns. Analysts have projected positive growth for the company in the coming quarters, citing its strong balance sheet and financials.
Further, they have also noted the company’s expanding customer base and its ability to navigate through the current economic conditions. All in all, CARR is expected to remain an attractive investment choice in the near future.
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