Renaissance Technologies LLC lowered its position in Service Co. International (NYSE:SCI) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 666,230 shares of the company’s stock after selling 7,000 shares during the period. Renaissance Technologies LLC owned about 0.37% of Service Co. International worth $31,166,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. Handelsbanken Fonder AB raised its position in shares of Service Co. International by 7.0% in the second quarter. Handelsbanken Fonder AB now owns 3,126,725 shares of the company’s stock worth $146,268,000 after acquiring an additional 204,177 shares during the period. FIL Ltd increased its stake in shares of Service Co. International by 0.3% during the first quarter. FIL Ltd now owns 3,042,436 shares of the company’s stock worth $122,153,000 after purchasing an additional 8,197 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Service Co. International by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 2,292,095 shares of the company’s stock worth $107,224,000 after purchasing an additional 38,138 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Service Co. International by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 1,728,263 shares of the company’s stock worth $69,579,000 after purchasing an additional 138,359 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Service Co. International by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,695,469 shares of the company’s stock worth $68,257,000 after purchasing an additional 62,113 shares in the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.
In related news, insider Tammy R. Moore sold 7,900 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $46.89, for a total transaction of $370,431.00. Following the completion of the sale, the insider now owns 32,763 shares of the company’s stock, valued at approximately $1,536,257.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas L. Ryan sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.45, for a total transaction of $2,372,500.00. Following the sale, the chief executive officer now directly owns 1,072,809 shares of the company’s stock, valued at approximately $50,904,787.05. The disclosure for this sale can be found here. Insiders have sold 562,935 shares of company stock valued at $26,614,707 in the last three months. Corporate insiders own 5.50% of the company’s stock.
Separately, Raymond James boosted their target price on shares of Service Co. International from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $50.33.
Shares of SCI stock traded up $1.17 on Friday, reaching $48.56. 984,281 shares of the company were exchanged, compared to its average volume of 649,402. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 2.15 and a beta of 0.91. The business has a 50-day moving average price of $46.71 and a 200 day moving average price of $44.05. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.60 and a current ratio of 0.64. Service Co. International has a 1 year low of $37.52 and a 1 year high of $48.69.
Service Co. International (NYSE:SCI) last released its earnings results on Monday, July 29th. The company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $812.57 million during the quarter, compared to analysts’ expectations of $811.01 million. Service Co. International had a net margin of 12.88% and a return on equity of 20.55%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. As a group, equities analysts anticipate that Service Co. International will post 1.95 earnings per share for the current year.
Service Co. International announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 14th that allows the company to buyback $246.00 million in shares. This buyback authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. Service Co. International’s dividend payout ratio is currently 40.22%.
Service Co. International Company Profile
Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.
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