Service Co. International (SCI) Stake Lessened by First Mercantile Trust Co.
First Mercantile Trust Co. trimmed its holdings in Service Co. International (NYSE:SCI) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,805 shares of the company’s stock after selling 1,575 shares during the period. First Mercantile Trust Co.’s holdings in Service Co. International were worth $254,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new stake in shares of Service Co. International in the fourth quarter valued at approximately $293,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Service Co. International by 44.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,111 shares of the company’s stock worth $377,000 after purchasing an additional 3,128 shares during the period. Stephens Inc. AR increased its stake in shares of Service Co. International by 31.8% during the fourth quarter. Stephens Inc. AR now owns 10,120 shares of the company’s stock worth $378,000 after purchasing an additional 2,443 shares during the period. Highland Capital Management LLC bought a new position in shares of Service Co. International during the fourth quarter worth approximately $506,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Service Co. International during the third quarter worth approximately $510,000. 84.72% of the stock is owned by institutional investors.
In other Service Co. International news, insider R L. Waltrip sold 84,679 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $37.90, for a total transaction of $3,209,334.10. Following the transaction, the insider now owns 765,762 shares in the company, valued at approximately $29,022,379.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Elisabeth G. Nash sold 47,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $35.64, for a total value of $1,675,080.00. Following the transaction, the vice president now owns 164,441 shares in the company, valued at approximately $5,860,677.24. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.
Service Co. International (NYSE:SCI) last announced its earnings results on Tuesday, February 13th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.05. Service Co. International had a return on equity of 24.85% and a net margin of 11.83%. During the same quarter last year, the company earned $0.47 EPS. research analysts expect that Service Co. International will post 1.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Service Co. International’s previous quarterly dividend of $0.15. Service Co. International’s dividend payout ratio (DPR) is 31.58%.
SCI has been the topic of a number of recent research reports. Zacks Investment Research lowered Service Co. International from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Credit Suisse Group reiterated an “outperform” rating and set a $40.00 target price (up previously from $38.00) on shares of Service Co. International in a research note on Friday, November 3rd. Off Wall Street initiated coverage on Service Co. International in a research note on Friday, December 15th. They set a “sell” rating on the stock. Finally, Oppenheimer reiterated a “buy” rating and set a $42.00 target price on shares of Service Co. International in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Service Co. International has an average rating of “Buy” and a consensus price target of $42.00.
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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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