CenturyLink Investment Management Co decreased its holdings in Service Co. International (NYSE:SCI) by 14.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,496 shares of the company’s stock after selling 3,475 shares during the quarter. CenturyLink Investment Management Co’s holdings in Service Co. International were worth $980,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Service Co. International by 0.6% in the 2nd quarter. BlackRock Inc. now owns 16,219,458 shares of the company’s stock worth $758,745,000 after purchasing an additional 102,413 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Service Co. International by 1.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 615,530 shares of the company’s stock worth $28,794,000 after acquiring an additional 9,890 shares during the last quarter. Mackenzie Financial Corp raised its stake in Service Co. International by 77.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,441,570 shares of the company’s stock worth $67,437,000 after acquiring an additional 627,607 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Service Co. International by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 846,538 shares of the company’s stock worth $39,602,000 after acquiring an additional 25,455 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in Service Co. International by 0.9% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 581,169 shares of the company’s stock worth $27,188,000 after acquiring an additional 5,224 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.
Shares of SCI stock opened at $45.95 on Thursday. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90. 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 business has a fifty day moving average of $46.78 and a 200 day moving average of $45.14. 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 issued its earnings results on Monday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.47. The company had revenue of $812.57 million during the quarter, compared to analyst estimates of $811.01 million. Service Co. International had a return on equity of 20.55% and a net margin of 12.88%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business 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 year.
Service Co. International declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 14th that allows the company to repurchase $246.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.57%. Service Co. International’s payout ratio is currently 40.22%.
In other Service Co. International news, insider Tammy R. Moore sold 51,600 shares of Service Co. International 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 owns 62,163 shares in the company, valued at approximately $2,911,093.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eric D. Tanzberger sold 230,300 shares of Service Co. International stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $47.06, for a total value of $10,837,918.00. Following the transaction, the chief financial officer now owns 158,417 shares of the company’s stock, valued at approximately $7,455,104.02. The disclosure for this sale can be found here. Insiders have sold a total of 575,633 shares of company stock valued at $27,215,196 in the last quarter. Company insiders own 5.50% of the company’s stock.
A number of equities analysts recently issued reports on SCI shares. Raymond James raised their target price on Service Co. International from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. ValuEngine lowered Service Co. International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.
About Service Co. International
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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