Service Co. International (SCI) Position Cut by Timber Hill LLC
Timber Hill LLC reduced its position in shares of Service Co. International (NYSE:SCI) by 11.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,727 shares of the company’s stock after selling 845 shares during the period. Timber Hill LLC’s holdings in Service Co. International were worth $208,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Founders Capital Management acquired a new stake in Service Co. International during the first quarter worth approximately $185,000. Glen Harbor Capital Management LLC increased its position in Service Co. International by 11.1% in the first quarter. Glen Harbor Capital Management LLC now owns 6,064 shares of the company’s stock valued at $187,000 after buying an additional 608 shares during the period. Baird Financial Group Inc. purchased a new position in Service Co. International during the first quarter valued at about $202,000. Tyers Asset Management LLC purchased a new position in Service Co. International during the fourth quarter valued at about $213,000. Finally, Virginia Retirement Systems ET AL purchased a new position in Service Co. International during the first quarter valued at about $213,000. 83.34% of the stock is owned by institutional investors.
Shares of Service Co. International (NYSE:SCI) traded up 0.98% on Friday, reaching $31.95. 783,457 shares of the company traded hands. Service Co. International has a 52-week low of $24.90 and a 52-week high of $33.20. The firm has a 50-day moving average of $31.50 and a 200-day moving average of $29.46. The company has a market capitalization of $6.01 billion, a PE ratio of 20.44 and a beta of 0.85.
Service Co. International (NYSE:SCI) last announced its earnings results on Wednesday, April 26th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.30 by $0.08. The business had revenue of $777.70 million during the quarter, compared to the consensus estimate of $764.02 million. Service Co. International had a return on equity of 22.02% and a net margin of 5.84%. Service Co. International’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 earnings per share. On average, equities research analysts forecast that Service Co. International will post $1.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a $0.15 dividend. This is an increase from Service Co. International’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, June 13th. Service Co. International’s dividend payout ratio is currently 57.78%.
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SCI has been the subject of several research reports. Deutsche Bank AG initiated coverage on Service Co. International in a research note on Monday, May 1st. They set a “buy” rating and a $40.00 price target for the company. Zacks Investment Research raised Service Co. International from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Saturday, April 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Service Co. International presently has an average rating of “Buy” and an average target price of $35.25.
In related news, VP Sumner J. Waring III sold 33,300 shares of the stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $31.21, for a total value of $1,039,293.00. Following the completion of the sale, the vice president now directly owns 366,065 shares of the company’s stock, valued at approximately $11,424,888.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas L. Ryan sold 100,000 shares of the stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $31.55, for a total value of $3,155,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,175,109 shares of the company’s stock, valued at $37,074,688.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 304,700 shares of company stock valued at $9,661,163. Company insiders own 6.00% of the company’s stock.
About Service Co. International
Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.
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