Strive Asset Management LLC Takes Position in Service Corporation International $SCI

Strive Asset Management LLC acquired a new stake in Service Corporation International (NYSE:SCI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,000 shares of the company’s stock, valued at approximately $832,000.

Other hedge funds also recently made changes to their positions in the company. Advisors Preferred LLC bought a new position in shares of Service Corporation International in the third quarter worth $236,000. Rhumbline Advisers grew its stake in Service Corporation International by 3.0% during the third quarter. Rhumbline Advisers now owns 394,961 shares of the company’s stock worth $32,869,000 after buying an additional 11,484 shares in the last quarter. Applied Finance Capital Management LLC bought a new position in Service Corporation International in the 3rd quarter valued at about $247,000. Sentry Investment Management LLC bought a new position in Service Corporation International in the 3rd quarter valued at about $46,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Service Corporation International by 8.4% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 381,200 shares of the company’s stock valued at $31,723,000 after buying an additional 29,478 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Insider Activity

In other Service Corporation International news, CAO Tammy R. Moore sold 5,000 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $80.48, for a total transaction of $402,400.00. Following the completion of the sale, the chief accounting officer owned 21,654 shares in the company, valued at approximately $1,742,713.92. The trade was a 18.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Elisabeth G. Nash sold 42,400 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $76.32, for a total transaction of $3,235,968.00. Following the completion of the sale, the vice president owned 110,006 shares in the company, valued at $8,395,657.92. This represents a 27.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.40% of the stock is currently owned by corporate insiders.

Service Corporation International Stock Performance

NYSE SCI opened at $85.73 on Tuesday. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.86 and a beta of 1.00. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 3.10. Service Corporation International has a twelve month low of $71.75 and a twelve month high of $86.67. The stock has a fifty day simple moving average of $80.72 and a 200 day simple moving average of $80.37.

Service Corporation International (NYSE:SCI) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.14. Service Corporation International had a net margin of 12.59% and a return on equity of 34.21%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company earned $1.06 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts expect that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.6%. This is an increase from Service Corporation International’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, March 13th. Service Corporation International’s payout ratio is presently 35.79%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SCI. Weiss Ratings upgraded shares of Service Corporation International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. started coverage on Service Corporation International in a report on Tuesday, January 20th. They set an “overweight” rating and a $110.00 price target for the company. Finally, Wall Street Zen downgraded Service Corporation International from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $96.50.

Service Corporation International Profile

Service Corporation International (NYSE: SCI) is a leading provider of funeral, cremation and cemetery services in North America. Through its network of funeral homes, cemeteries, memorial parks and crematoria, the company offers a broad array of end-of-life services, including traditional funeral ceremonies, memorialization, burial and cremation. In addition to core services, SCI provides grief counseling, pre-need planning and merchandise such as caskets, vaults, urns and memorialization products.

Headquartered in Houston, Texas, Service Corporation International operates more than 1,900 funeral homes, over 450 cemeteries and 40 combination facilities across the United States and Canada.