361 Capital LLC Increases Stake in Service Corporation International (SCI)
361 Capital LLC lifted its stake in shares of Service Corporation International (NYSE:SCI) by 22.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 184,704 shares of the company’s stock after purchasing an additional 33,748 shares during the quarter. 361 Capital LLC owned about 0.10% of Service Corporation International worth $6,178,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in SCI. Acrospire Investment Management LLC raised its position in shares of Service Corporation International by 315.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,687 shares of the company’s stock worth $123,000 after purchasing an additional 2,800 shares during the period. IFP Advisors Inc raised its position in shares of Service Corporation International by 2.1% during the 2nd quarter. IFP Advisors Inc now owns 4,232 shares of the company’s stock worth $142,000 after purchasing an additional 89 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Service Corporation International during the 1st quarter worth approximately $200,000. CIBC Asset Management Inc acquired a new stake in shares of Service Corporation International during the 2nd quarter worth approximately $210,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Service Corporation International during the 1st quarter worth approximately $213,000. Institutional investors and hedge funds own 84.83% of the company’s stock.
A number of analysts have recently weighed in on the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $39.00 price target on shares of Service Corporation International in a research report on Tuesday, September 26th. Zacks Investment Research cut Service Corporation International from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Finally, BidaskClub upgraded Service Corporation International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th.
Service Corporation International (NYSE:SCI) traded down 1.53% during mid-day trading on Monday, reaching $34.04. The company had a trading volume of 328,310 shares. Service Corporation International has a 52-week low of $24.90 and a 52-week high of $35.89. The company’s 50 day moving average is $34.95 and its 200 day moving average is $33.15. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 18.45 and a beta of 0.92.
Service Corporation International (NYSE:SCI) last posted its earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Service Corporation International had a net margin of 11.59% and a return on equity of 24.67%. The company had revenue of $773.20 million during the quarter, compared to analysts’ expectations of $769.57 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. Service Corporation International’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that Service Corporation International will post $1.46 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Thursday, September 14th. Service Corporation International’s dividend payout ratio (DPR) is currently 32.43%.
In other news, VP Gregory T. Sangalis sold 72,300 shares of Service Corporation International stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $35.40, for a total value of $2,559,420.00. Following the completion of the transaction, the vice president now owns 129,883 shares in the company, valued at $4,597,858.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Blair Waltrip sold 2,000 shares of Service Corporation International stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $35.07, for a total transaction of $70,140.00. Following the completion of the transaction, the director now owns 661,409 shares of the company’s stock, valued at approximately $23,195,613.63. The disclosure for this sale can be found here. Insiders sold 604,800 shares of company stock valued at $21,109,153 in the last quarter. 6.20% of the stock is currently owned by corporate insiders.
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Service Corporation International 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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