Argent Trust Co lessened its position in shares of Service Co. International (NYSE:SCI) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 112,974 shares of the company’s stock after selling 1,339 shares during the period. Argent Trust Co owned approximately 0.07% of Service Co. International worth $5,767,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of SCI. Sepio Capital LP increased its stake in shares of Service Co. International by 2.1% during the fourth quarter. Sepio Capital LP now owns 13,047 shares of the company’s stock valued at $641,000 after buying an additional 268 shares during the period. Commerce Bank boosted its stake in shares of Service Co. International by 2.3% during the 1st quarter. Commerce Bank now owns 14,393 shares of the company’s stock valued at $734,000 after purchasing an additional 323 shares in the last quarter. LPL Financial LLC increased its position in shares of Service Co. International by 1.3% during the fourth quarter. LPL Financial LLC now owns 26,709 shares of the company’s stock valued at $1,311,000 after buying an additional 351 shares during the period. Procyon Private Wealth Partners LLC grew its holdings in shares of Service Co. International by 9.0% during the 1st quarter. Procyon Private Wealth Partners LLC now owns 5,445 shares of the company’s stock worth $278,000 after acquiring an additional 450 shares during the period. Finally, BDO Wealth Advisors LLC bought a new position in shares of Service Co. International in the 4th quarter worth approximately $25,000. 86.20% of the stock is currently owned by institutional investors and hedge funds.
In other Service Co. International news, VP Gregory T. Sangalis sold 20,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $53.42, for a total transaction of $1,105,794.00. Following the completion of the sale, the vice president now directly owns 144,999 shares of the company’s stock, valued at $7,745,846.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan R. Buckwalter III sold 40,000 shares of the stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $56.01, for a total transaction of $2,240,400.00. Following the completion of the transaction, the director now owns 46,393 shares in the company, valued at $2,598,471.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,389 shares of company stock worth $3,554,659. 5.20% of the stock is owned by insiders.
Service Co. International (NYSE:SCI) last released its quarterly earnings data on Sunday, May 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.33. Service Co. International had a return on equity of 37.81% and a net margin of 17.50%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $955.77 million. During the same period in the prior year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 34.3% on a year-over-year basis. As a group, research analysts predict that Service Co. International will post 2.89 EPS for the current fiscal year.
Service Co. International declared that its board has approved a stock repurchase program on Wednesday, May 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.54%. Service Co. International’s payout ratio is 28.87%.
Separately, Oppenheimer boosted their target price on shares of Service Co. International from $54.00 to $59.00 in a report on Monday, May 10th.
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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