Neuberger Berman Group LLC Has $68.69 Million Stake in Service Corporation International (SCI)
Neuberger Berman Group LLC decreased its position in Service Corporation International (NYSE:SCI) by 1.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,053,584 shares of the company’s stock after selling 40,588 shares during the period. Neuberger Berman Group LLC owned approximately 1.10% of Service Corporation International worth $68,692,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in SCI. Credit Agricole S A boosted its stake in Service Corporation International by 18.8% in the first quarter. Credit Agricole S A now owns 392,858 shares of the company’s stock worth $12,131,000 after buying an additional 62,053 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Service Corporation International by 11.1% in the first quarter. Glen Harbor Capital Management LLC now owns 6,064 shares of the company’s stock worth $187,000 after buying an additional 608 shares during the period. Renaissance Technologies LLC acquired a new stake in Service Corporation International during the first quarter worth $37,427,000. PEAK6 Investments L.P. boosted its stake in Service Corporation International by 78.2% in the first quarter. PEAK6 Investments L.P. now owns 19,462 shares of the company’s stock worth $601,000 after buying an additional 8,538 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in Service Corporation International during the second quarter worth $1,967,000. Institutional investors own 84.83% of the company’s stock.
Service Corporation International (NYSE:SCI) opened at 35.34 on Friday. Service Corporation International has a one year low of $24.90 and a one year high of $35.89. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 19.15 and a beta of 0.93. The firm has a 50-day moving average price of $34.86 and a 200-day moving average price of $32.48.
Service Corporation International (NYSE:SCI) last issued its earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The firm had revenue of $773.20 million for the quarter, compared to analyst estimates of $769.57 million. Service Corporation International had a return on equity of 24.67% and a net margin of 11.59%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Analysts expect that Service Corporation International will post $1.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.70%. Service Corporation International’s payout ratio is presently 32.43%.
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SCI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Service Corporation International from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday, August 25th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $37.00 price target (up previously from $34.00) on shares of Service Corporation International in a research note on Friday, July 21st. Finally, BidaskClub upgraded Service Corporation International from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.00.
In other Service Corporation International news, CEO Thomas L. Ryan sold 48,606 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.92, for a total value of $1,551,503.52. Following the sale, the chief executive officer now directly owns 1,123,715 shares in the company, valued at $35,868,982.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas L. Ryan sold 51,394 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $32.55, for a total value of $1,672,874.70. Following the completion of the sale, the chief executive officer now owns 1,119,503 shares in the company, valued at $36,439,822.65. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Service Corporation International Company Profile
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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