Ontario Teachers Pension Plan Board Makes New $922,000 Investment in Service Co. International (NYSE:SCI)

Ontario Teachers Pension Plan Board bought a new position in shares of Service Co. International (NYSE:SCI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,586 shares of the company’s stock, valued at approximately $922,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. ProShare Advisors LLC grew its position in shares of Service Co. International by 12.5% in the fourth quarter. ProShare Advisors LLC now owns 16,335 shares of the company’s stock valued at $752,000 after purchasing an additional 1,814 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of Service Co. International by 3.1% in the fourth quarter. Guggenheim Capital LLC now owns 195,530 shares of the company’s stock valued at $9,000,000 after purchasing an additional 5,924 shares during the last quarter. Prudential PLC grew its position in shares of Service Co. International by 161.2% in the first quarter. Prudential PLC now owns 42,630 shares of the company’s stock valued at $1,667,000 after purchasing an additional 26,312 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Service Co. International by 6.6% in the fourth quarter. Alliancebernstein L.P. now owns 7,682,982 shares of the company’s stock valued at $353,648,000 after purchasing an additional 472,545 shares during the last quarter. Finally, Blueshift Asset Management LLC grew its position in shares of Service Co. International by 227.0% in the fourth quarter. Blueshift Asset Management LLC now owns 46,044 shares of the company’s stock valued at $2,119,000 after purchasing an additional 31,962 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

In other Service Co. International news, VP Steven A. Tidwell sold 55,200 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.04, for a total transaction of $2,872,608.00. Following the transaction, the vice president now owns 47,912 shares of the company’s stock, valued at $2,493,340.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director W Blair Waltrip purchased 2,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $34.65 per share, for a total transaction of $69,300.00. Following the purchase, the director now owns 595,481 shares of the company’s stock, valued at $20,633,416.65. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 186,972 shares of company stock worth $9,650,605. 4.70% of the stock is currently owned by insiders.

Several research firms have recently commented on SCI. Citigroup increased their price target on shares of Service Co. International from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. S&P Equity Research lowered their price target on shares of Service Co. International from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Credit Suisse Group lowered their price target on shares of Service Co. International from $46.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. CSFB reduced their price objective on shares of Service Co. International from $46.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Finally, Raymond James reissued an “outperform” rating and set a $47.50 price objective (down previously from $58.00) on shares of Service Co. International in a research note on Tuesday, April 21st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $48.07.

Shares of SCI opened at $38.32 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.61. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.25 and a beta of 0.70. The company’s 50 day simple moving average is $37.55 and its 200 day simple moving average is $43.80. Service Co. International has a 1 year low of $33.93 and a 1 year high of $52.89.

Service Co. International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.03). The company had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $792.55 million. Service Co. International had a return on equity of 19.44% and a net margin of 11.50%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. Equities analysts expect that Service Co. International will post 1.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, June 12th. Service Co. International’s dividend payout ratio is currently 40.00%.

About Service Co. International

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.

Further Reading: Straddles

Institutional Ownership by Quarter for Service Co. International (NYSE:SCI)

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