Norges Bank Buys Shares of 1,299,078 Service Co. International (SCI)

Norges Bank bought a new stake in shares of Service Co. International (NYSE:SCI) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,299,078 shares of the company’s stock, valued at approximately $52,301,000.

Other institutional investors have also added to or reduced their stakes in the company. Lavaca Capital LLC bought a new stake in shares of Service Co. International in the 4th quarter valued at about $28,000. Global Retirement Partners LLC increased its stake in shares of Service Co. International by 80.5% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the company’s stock valued at $32,000 after acquiring an additional 352 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in shares of Service Co. International in the 4th quarter valued at about $35,000. Lloyds Banking Group plc bought a new stake in shares of Service Co. International in the 4th quarter valued at about $47,000. Finally, Enlightenment Research LLC bought a new stake in shares of Service Co. International in the 4th quarter valued at about $60,000. Institutional investors own 87.78% of the company’s stock.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Service Co. International from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. Raymond James cut Service Co. International from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, February 20th. Finally, ValuEngine cut Service Co. International from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $46.75.

In other news, Director Tony Coelho sold 6,325 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $39.65, for a total transaction of $250,786.25. Following the completion of the transaction, the director now directly owns 61,750 shares of the company’s stock, valued at approximately $2,448,387.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael R. Webb sold 881,565 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $41.56, for a total transaction of $36,637,841.40. Following the transaction, the insider now directly owns 476,253 shares of the company’s stock, valued at $19,793,074.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,322,555 shares of company stock valued at $55,091,685. 6.60% of the stock is owned by company insiders.

NYSE SCI opened at $41.36 on Thursday. Service Co. International has a 52-week low of $35.19 and a 52-week high of $47.09. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.60 and a quick ratio of 0.55. The company has a market cap of $7.45 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06.

Service Co. International (NYSE:SCI) last posted its earnings results on Monday, February 18th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Service Co. International had a return on equity of 21.92% and a net margin of 14.02%. The business had revenue of $820.81 million for the quarter, compared to the consensus estimate of $843.45 million. During the same period in the previous year, the company posted $0.50 earnings per share. Service Co. International’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts expect that Service Co. International will post 1.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.74%. This is a boost from Service Co. International’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, March 14th. Service Co. International’s dividend payout ratio is presently 40.22%.

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

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