Oppenheimer Asset Management Inc. raised its holdings in shares of Service Co. International (NYSE:SCI) by 42.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,071 shares of the company’s stock after purchasing an additional 1,213 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Service Co. International were worth $190,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. raised its stake in shares of Service Co. International by 5.2% in the second quarter. Oppenheimer & Co. Inc. now owns 23,214 shares of the company’s stock valued at $1,085,000 after acquiring an additional 1,150 shares during the period. Jennison Associates LLC raised its stake in shares of Service Co. International by 4.3% in the second quarter. Jennison Associates LLC now owns 5,221 shares of the company’s stock valued at $244,000 after acquiring an additional 214 shares during the period. William Blair Investment Management LLC raised its stake in shares of Service Co. International by 675.3% in the second quarter. William Blair Investment Management LLC now owns 365,593 shares of the company’s stock valued at $17,102,000 after acquiring an additional 318,437 shares during the period. Ontario Teachers Pension Plan Board raised its stake in shares of Service Co. International by 55.4% in the second quarter. Ontario Teachers Pension Plan Board now owns 29,640 shares of the company’s stock valued at $1,387,000 after acquiring an additional 10,563 shares during the period. Finally, Atria Investments LLC purchased a new stake in shares of Service Co. International in the second quarter valued at $752,000. 88.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of SCI traded up $0.84 during midday trading on Friday, hitting $48.23. The stock had a trading volume of 17,700 shares, compared to its average volume of 667,356. Service Co. International has a 1 year low of $37.52 and a 1 year high of $48.69. The firm has a market cap of $8.48 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.91. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.64 and a quick ratio of 0.60. The stock’s 50 day moving average is $46.69 and its 200 day moving average is $44.02.
Service Co. International (NYSE:SCI) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.47 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $812.57 million for the quarter, compared to the consensus estimate of $811.01 million. Service Co. International had a net margin of 12.88% and a return on equity of 20.55%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. As a group, equities research analysts expect that Service Co. International will post 1.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, September 12th. Service Co. International’s dividend payout ratio is presently 40.22%.
Service Co. International declared that its board has approved a share repurchase plan on Wednesday, August 14th that allows the company to buyback $246.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
Separately, Raymond James increased their target price on shares of Service Co. International from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $50.33.
In related news, insider Tammy R. Moore sold 7,900 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $46.89, for a total value of $370,431.00. Following the transaction, the insider now owns 32,763 shares of the company’s stock, valued at approximately $1,536,257.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tammy R. Moore sold 51,600 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $46.83, for a total transaction of $2,416,428.00. Following the completion of the transaction, the insider now directly owns 62,163 shares in the company, valued at approximately $2,911,093.29. The disclosure for this sale can be found here. Insiders sold a total of 512,935 shares of company stock worth $24,242,207 in the last ninety days. 5.50% of the stock is currently owned by insiders.
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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