Renaissance Technologies LLC lifted its stake in Service Co. International (NYSE:SCI) by 55.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 845,500 shares of the company’s stock after acquiring an additional 302,100 shares during the period. Renaissance Technologies LLC owned 0.45% of Service Co. International worth $31,554,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. raised its position in shares of Service Co. International by 16.9% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 374,245 shares of the company’s stock worth $13,979,000 after acquiring an additional 54,055 shares in the last quarter. Bank of Montreal Can raised its position in shares of Service Co. International by 170.4% in the 4th quarter. Bank of Montreal Can now owns 28,224 shares of the company’s stock worth $1,053,000 after acquiring an additional 17,787 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Service Co. International by 284.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 257,164 shares of the company’s stock worth $8,872,000 after acquiring an additional 190,334 shares in the last quarter. Contravisory Investment Management Inc. raised its position in shares of Service Co. International by 118,665.1% in the 4th quarter. Contravisory Investment Management Inc. now owns 98,575 shares of the company’s stock worth $3,679,000 after acquiring an additional 98,492 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Service Co. International by 1.7% in the 4th quarter. California Public Employees Retirement System now owns 407,106 shares of the company’s stock worth $15,193,000 after acquiring an additional 6,902 shares in the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Tony Coelho sold 3,110 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $39.11, for a total transaction of $121,632.10. Following the transaction, the director now directly owns 63,240 shares of the company’s stock, valued at approximately $2,473,316.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.20% of the company’s stock.
Several research analysts have recently commented on SCI shares. Off Wall Street started coverage on Service Co. International in a research report on Friday, December 15th. They issued a “sell” rating for the company. Bank of America boosted their price target on Service Co. International from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Credit Suisse Group boosted their price target on Service Co. International from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Oppenheimer reissued a “buy” rating and issued a $42.00 price target on shares of Service Co. International in a research report on Thursday, January 18th. Finally, Deutsche Bank boosted their price target on Service Co. International from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Service Co. International currently has an average rating of “Buy” and a consensus target price of $43.60.
SCI stock opened at $38.66 on Wednesday. Service Co. International has a 1 year low of $30.02 and a 1 year high of $40.28. The stock has a market capitalization of $7,167.24, a PE ratio of 24.83, a P/E/G ratio of 1.76 and a beta of 0.98. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.55 and a current ratio of 0.58.
Service Co. International (NYSE:SCI) last announced its earnings results on Tuesday, February 13th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. Service Co. International had a return on equity of 23.68% and a net margin of 17.66%. The company had revenue of $812.73 million for the quarter, compared to analyst estimates of $823.66 million. During the same period in the prior year, the company posted $0.47 EPS. equities analysts predict that Service Co. International will post 1.81 earnings per share for the current fiscal year.
Service Co. International declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 13th that allows the company to buyback $298.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be given a dividend of $0.17 per share. This is a positive change from Service Co. International’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, March 14th. Service Co. International’s dividend payout ratio is currently 23.86%.
Service Co. 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 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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