Zacks Investment Management Has $1.56 Million Stake in Service Co. International (SCI)

Zacks Investment Management lowered its position in Service Co. International (NYSE:SCI) by 52.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,469 shares of the company’s stock after selling 47,352 shares during the period. Zacks Investment Management’s holdings in Service Co. International were worth $1,556,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SCI. Hilltop Holdings Inc. bought a new position in Service Co. International during the second quarter worth about $393,000. Macquarie Group Ltd. boosted its position in Service Co. International by 0.3% during the second quarter. Macquarie Group Ltd. now owns 1,311,028 shares of the company’s stock worth $46,922,000 after purchasing an additional 4,486 shares during the period. Accipiter Capital Management LLC bought a new position in Service Co. International during the second quarter worth about $895,000. Voya Investment Management LLC boosted its position in Service Co. International by 189.7% during the second quarter. Voya Investment Management LLC now owns 431,885 shares of the company’s stock worth $15,457,000 after purchasing an additional 282,798 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Service Co. International during the second quarter worth about $970,000. Institutional investors own 85.62% of the company’s stock.

Shares of NYSE:SCI opened at $42.16 on Friday. The company has a debt-to-equity ratio of 2.37, a current ratio of 0.56 and a quick ratio of 0.51. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97. Service Co. International has a twelve month low of $33.16 and a twelve month high of $42.93.

Service Co. International (NYSE:SCI) last issued its earnings results on Monday, July 30th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $796.09 million during the quarter, compared to analyst estimates of $792.56 million. Service Co. International had a net margin of 15.59% and a return on equity of 23.37%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.35 earnings per share. analysts predict that Service Co. International will post 1.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.18 dividend. This is a positive change from Service Co. International’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, September 13th. Service Co. International’s dividend payout ratio (DPR) is 43.87%.

In other news, Director W Blair Waltrip sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $42.50, for a total value of $2,125,000.00. Following the completion of the transaction, the director now directly owns 616,244 shares in the company, valued at $26,190,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven A. Tidwell sold 32,150 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $41.80, for a total transaction of $1,343,870.00. Following the completion of the transaction, the vice president now owns 78,747 shares of the company’s stock, valued at $3,291,624.60. The disclosure for this sale can be found here. Insiders sold 845,985 shares of company stock valued at $33,859,909 over the last 90 days. 6.20% of the stock is owned by company insiders.

Separately, Zacks Investment Research upgraded shares of Service Co. International from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $44.20.

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

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