Monument Capital Management decreased its position in shares of Service Co. International (NYSE:SCI) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 49,798 shares of the company’s stock after selling 911 shares during the period. Monument Capital Management’s holdings in Service Co. International were worth $2,381,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Service Co. International by 0.6% during the 2nd quarter. BlackRock Inc. now owns 16,219,458 shares of the company’s stock valued at $758,745,000 after buying an additional 102,413 shares in the last quarter. Atlanta Capital Management Co. L L C lifted its stake in Service Co. International by 52.2% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 3,580,662 shares of the company’s stock worth $167,503,000 after purchasing an additional 1,227,900 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Service Co. International by 7.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 3,126,725 shares of the company’s stock worth $146,268,000 after purchasing an additional 204,177 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Service Co. International by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,292,095 shares of the company’s stock worth $107,224,000 after purchasing an additional 38,138 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Service Co. International by 22.4% in the 2nd quarter. Invesco Ltd. now owns 1,866,297 shares of the company’s stock worth $87,305,000 after purchasing an additional 341,201 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.
Several brokerages have commented on SCI. ValuEngine cut shares of Service Co. International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James boosted their price target on shares of Service Co. International from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st.
SCI stock remained flat at $$46.67 during mid-day trading on Monday. 652,046 shares of the company’s stock traded hands, compared to its average volume of 954,146. The company has a market capitalization of $8.50 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 2.14 and a beta of 0.90. Service Co. International has a 1-year low of $37.52 and a 1-year high of $48.69. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.99. The firm’s 50-day moving average price is $46.79 and its 200-day moving average price is $45.20.
Service Co. International (NYSE:SCI) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $812.57 million for the quarter, compared to analysts’ expectations of $811.01 million. Service Co. International had a net margin of 12.88% and a return on equity of 20.55%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. On average, research analysts forecast that Service Co. International will post 1.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, September 12th. Service Co. International’s payout ratio is currently 40.22%.
Service Co. International declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 14th that permits the company to buyback $246.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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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