Rothschild Asset Management Inc. boosted its stake in shares of Service Corporation International (NYSE:SCI) by 58.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 834,092 shares of the company’s stock after acquiring an additional 307,915 shares during the period. Rothschild Asset Management Inc. owned 0.44% of Service Corporation International worth $28,776,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Balyasny Asset Management LLC boosted its holdings in shares of Service Corporation International by 271.3% in the 2nd quarter. Balyasny Asset Management LLC now owns 777,768 shares of the company’s stock valued at $26,016,000 after purchasing an additional 568,279 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Service Corporation International by 284.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 257,164 shares of the company’s stock valued at $8,872,000 after acquiring an additional 190,334 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Service Corporation International during the 3rd quarter valued at $4,806,000. Parametric Portfolio Associates LLC boosted its holdings in shares of Service Corporation International by 44.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 323,988 shares of the company’s stock valued at $10,837,000 after acquiring an additional 100,410 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in shares of Service Corporation International by 6.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,322,878 shares of the company’s stock valued at $45,640,000 after acquiring an additional 79,616 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.
Shares of Service Corporation International (SCI) traded up $0.12 during trading on Thursday, reaching $37.61. The company had a trading volume of 877,879 shares, compared to its average volume of 1,060,001. Service Corporation International has a twelve month low of $26.60 and a twelve month high of $37.88. The company has a market cap of $7,058.25, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.24 and a beta of 0.96. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.70 and a quick ratio of 0.65.
Service Corporation International (NYSE:SCI) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The business had revenue of $731.30 million during the quarter, compared to the consensus estimate of $735.62 million. Service Corporation International had a return on equity of 24.85% and a net margin of 11.83%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. sell-side analysts predict that Service Corporation International will post 1.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.60%. Service Corporation International’s payout ratio is presently 31.58%.
In related news, insider Michael R. Webb sold 202,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $34.70, for a total value of $7,009,400.00. Following the transaction, the insider now owns 622,903 shares in the company, valued at $21,614,734.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas L. Ryan sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $34.92, for a total value of $3,492,000.00. Following the completion of the transaction, the chief executive officer now owns 1,175,109 shares in the company, valued at approximately $41,034,806.28. The disclosure for this sale can be found here. Insiders sold a total of 464,700 shares of company stock worth $16,248,830 in the last 90 days. Company insiders own 6.20% of the company’s stock.
Several research analysts have commented on SCI shares. Credit Suisse Group reaffirmed an “outperform” rating and set a $40.00 target price (up from $38.00) on shares of Service Corporation International in a report on Friday, November 3rd. Zacks Investment Research downgraded Service Corporation International from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Finally, BidaskClub raised Service Corporation International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Service Corporation International has a consensus rating of “Buy” and an average target price of $39.75.
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About Service Corporation 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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