Amalgamated Bank raised its stake in shares of Service Co. International (NYSE:SCI) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,267 shares of the company’s stock after purchasing an additional 1,994 shares during the period. Amalgamated Bank’s holdings in Service Co. International were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also modified their holdings of SCI. Aperio Group LLC boosted its position in Service Co. International by 4.2% during the 4th quarter. Aperio Group LLC now owns 51,509 shares of the company’s stock valued at $1,922,000 after acquiring an additional 2,084 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in Service Co. International by 1.6% during the 4th quarter. Mutual of America Capital Management LLC now owns 153,560 shares of the company’s stock valued at $5,731,000 after acquiring an additional 2,389 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of Service Co. International by 31.8% during the 4th quarter. Stephens Inc. AR now owns 10,120 shares of the company’s stock valued at $378,000 after purchasing an additional 2,443 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Service Co. International by 4.6% during the 3rd quarter. Nordea Investment Management AB now owns 62,639 shares of the company’s stock valued at $2,161,000 after purchasing an additional 2,734 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Service Co. International by 44.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,111 shares of the company’s stock valued at $377,000 after purchasing an additional 3,128 shares during the last quarter. Hedge funds and other institutional investors own 86.96% of the company’s stock.
In other Service Co. International news, Director Tony Coelho sold 3,110 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $39.11, for a total value of $121,632.10. Following the completion of the transaction, the director now owns 63,240 shares in the company, valued at $2,473,316.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.20% of the stock is currently owned by corporate insiders.
Shares of SCI stock traded down $1.03 during trading on Monday, hitting $36.71. 1,336,191 shares of the stock traded hands, compared to its average volume of 1,179,453. The firm has a market cap of $6,982.23, a PE ratio of 23.68, a PEG ratio of 1.72 and a beta of 0.93. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.55 and a current ratio of 0.58. Service Co. International has a 52-week low of $30.12 and a 52-week high of $40.28.
Service Co. International (NYSE:SCI) last announced its earnings results on Tuesday, February 13th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Service Co. International had a return on equity of 23.68% and a net margin of 17.66%. The company had revenue of $812.73 million for the quarter, compared to analyst estimates of $823.66 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. equities research analysts predict that Service Co. International will post 1.81 EPS for the current fiscal year.
Service Co. International announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 13th that allows the company to repurchase $298.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Thursday, March 15th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, March 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.85%. This is a positive change from Service Co. International’s previous quarterly dividend of $0.15. Service Co. International’s dividend payout ratio is currently 43.87%.
A number of brokerages recently issued reports on SCI. Credit Suisse Group lifted their price objective on Service Co. International from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Deutsche Bank raised their target price on Service Co. International from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Off Wall Street initiated coverage on Service Co. International in a research report on Friday, December 15th. They set a “sell” rating on the stock. Bank of America lifted their price objective on Service Co. International from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Zacks Investment Research cut Service Co. International from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Service Co. International presently has an average rating of “Buy” and a consensus price target of $43.60.
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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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