Clearbridge Investments LLC Reduces Holdings in Service Co. International (NYSE:SCI)

Clearbridge Investments LLC decreased its position in Service Co. International (NYSE:SCI) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,207 shares of the company’s stock after selling 6,454 shares during the period. Clearbridge Investments LLC owned 0.27% of Service Co. International worth $26,983,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SCI. Fifth Third Bancorp increased its holdings in Service Co. International by 45.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,224 shares of the company’s stock valued at $70,000 after purchasing an additional 382 shares during the last quarter. M&T Bank Corp increased its holdings in Service Co. International by 6.0% in the 3rd quarter. M&T Bank Corp now owns 14,761 shares of the company’s stock valued at $843,000 after purchasing an additional 839 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Service Co. International by 2.1% in the third quarter. Private Advisor Group LLC now owns 9,318 shares of the company’s stock worth $532,000 after acquiring an additional 188 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of Service Co. International in the third quarter worth $36,000. Finally, Victory Capital Management Inc. grew its stake in shares of Service Co. International by 14.7% in the third quarter. Victory Capital Management Inc. now owns 89,044 shares of the company’s stock worth $5,088,000 after acquiring an additional 11,405 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

SCI has been the subject of a number of research reports. UBS Group boosted their price target on shares of Service Co. International from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Oppenheimer boosted their price target on shares of Service Co. International from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $76.80.

Service Co. International Stock Performance

NYSE:SCI opened at $71.21 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 2.90. The company has a market cap of $10.37 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.92 and a beta of 0.81. Service Co. International has a fifty-two week low of $52.89 and a fifty-two week high of $75.97. The firm’s 50 day moving average is $71.12 and its two-hundred day moving average is $68.63.

Service Co. International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Service Co. International had a net margin of 12.73% and a return on equity of 32.23%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $0.93 earnings per share. Service Co. International’s revenue was up 1.6% on a year-over-year basis. Analysts expect that Service Co. International will post 3.66 EPS for the current year.

Service Co. International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, June 14th. Service Co. International’s payout ratio is currently 33.33%.

Insider Transactions at Service Co. International

In other news, CEO Thomas L. Ryan sold 75,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $73.53, for a total value of $5,514,750.00. Following the completion of the sale, the chief executive officer now owns 988,365 shares of the company’s stock, valued at $72,674,478.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Steven A. Tidwell sold 45,995 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $75.43, for a total transaction of $3,469,402.85. Following the completion of the sale, the vice president now directly owns 54,354 shares of the company’s stock, valued at approximately $4,099,922.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas L. Ryan sold 75,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $73.53, for a total transaction of $5,514,750.00. Following the sale, the chief executive officer now directly owns 988,365 shares of the company’s stock, valued at $72,674,478.45. The disclosure for this sale can be found here. Insiders sold 194,712 shares of company stock valued at $14,473,020 over the last 90 days. Corporate insiders own 5.10% of the company’s stock.

About Service Co. International

Service Corporation International provides deathcare products and services in the United States and Canada. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses. The company also provides professional services related to funerals and cremations, including the use of funeral home facilities and motor vehicles; arranging and directing services; and removal, preparation, embalming, cremation, memorialization, and travel protection, as well as catering services.