First Trust Advisors LP lowered its stake in Service Corp. International (NYSE:SCI) by 81.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,873 shares of the company’s stock after selling 175,296 shares during the period. First Trust Advisors LP’s holdings in Service Corp. International were worth $1,078,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in SCI. Norges Bank bought a new stake in shares of Service Corp. International during the fourth quarter valued at about $40,514,000. Aperio Group LLC increased its stake in shares of Service Corp. International by 6.9% in the first quarter. Aperio Group LLC now owns 34,258 shares of the company’s stock valued at $845,000 after buying an additional 2,202 shares during the period. IFP Advisors Inc increased its stake in shares of Service Corp. International by 6.0% in the first quarter. IFP Advisors Inc now owns 5,767 shares of the company’s stock valued at $142,000 after buying an additional 325 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Service Corp. International by 3.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 578,254 shares of the company’s stock valued at $14,271,000 after buying an additional 16,735 shares during the period. Finally, Ngam Advisors L.P. bought a new stake in shares of Service Corp. International during the first quarter valued at about $1,940,000. Institutional investors and hedge funds own 83.27% of the company’s stock.
Shares of Service Corp. International (NYSE:SCI) traded down 0.34% on Tuesday, reaching $26.35. The company’s stock had a trading volume of 214,577 shares. The stock has a 50-day moving average of $26.58 and a 200 day moving average of $26.54. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 28.74 and a beta of 0.81. Service Corp. International has a 52-week low of $20.21 and a 52-week high of $29.68.
Service Corp. International (NYSE:SCI) last released its earnings results on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The firm earned $751.70 million during the quarter, compared to analysts’ expectations of $766.81 million. Service Corp. International had a net margin of 6.13% and a return on equity of 19.48%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. On average, equities research analysts forecast that Service Corp. International will post $1.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Tuesday, September 13th. Service Corp. International’s payout ratio is presently 57.14%.
A number of research analysts have issued reports on SCI shares. Zacks Investment Research downgraded Service Corp. International from a “buy” rating to a “hold” rating in a research note on Saturday, July 2nd. Oppenheimer Holdings Inc. upped their price objective on Service Corp. International from $29.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Wells Fargo & Co. started coverage on Service Corp. International in a research note on Tuesday, August 2nd. They issued a “market perform” rating for the company. Finally, Bank of America Corp. started coverage on Service Corp. International in a research note on Friday. They issued a “buy” rating and a $32.00 price objective for the company.
In other Service Corp. International news, insider Michael R. Webb sold 93,300 shares of Service Corp. International stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $26.03, for a total transaction of $2,428,599.00. Following the completion of the transaction, the insider now owns 514,203 shares in the company, valued at $13,384,704.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan R. Buckwalter III sold 14,944 shares of Service Corp. International stock in a transaction on Friday, August 12th. The shares were sold at an average price of $27.40, for a total value of $409,465.60. Following the transaction, the director now owns 109,343 shares of the company’s stock, valued at approximately $2,995,998.20. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.
Service Corp. International Company Profile
Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments are funeral and cemetery operations. The Company conducts both funeral and cemetery operations in the United States and Canada. It operates over 1,535 funeral service locations and over 470 cemeteries, which are diversified across over 45 states, over eight Canadian provinces, the District of Columbia, and Puerto Rico.
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