BlackRock Advisors LLC boosted its position in shares of Service Corp. International (NYSE:SCI) by 444.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 538,891 shares of the company’s stock after buying an additional 439,896 shares during the period. BlackRock Advisors LLC owned 0.28% of Service Corp. International worth $14,572,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in Service Corp. International by 177.2% in the second quarter. Tower Research Capital LLC TRC now owns 11,211 shares of the company’s stock worth $303,000 after buying an additional 7,167 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Service Corp. International during the second quarter valued at about $511,000. Vanguard Group Inc. raised its stake in Service Corp. International by 3.7% in the second quarter. Vanguard Group Inc. now owns 13,487,825 shares of the company’s stock valued at $364,712,000 after buying an additional 479,158 shares in the last quarter. Principal Financial Group Inc. raised its stake in Service Corp. International by 11.6% in the second quarter. Principal Financial Group Inc. now owns 738,345 shares of the company’s stock valued at $19,965,000 after buying an additional 76,956 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Service Corp. International by 76.1% in the second quarter. Prudential Financial Inc. now owns 638,524 shares of the company’s stock valued at $17,266,000 after buying an additional 276,000 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.
Shares of Service Corp. International (NYSE:SCI) opened at 26.54 on Monday. Service Corp. International has a 52-week low of $20.21 and a 52-week high of $29.68. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 28.94 and a beta of 0.81. The firm has a 50-day moving average of $26.60 and a 200 day moving average of $26.48.
Service Corp. International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. Service Corp. International had a net margin of 6.13% and a return on equity of 19.48%. The company earned $751.70 million during the quarter, compared to analyst estimates of $766.81 million. During the same quarter in the previous year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. Analysts predict that Service Corp. International will post $1.24 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. Service Corp. International’s payout ratio is currently 57.14%.
Several analysts have issued reports on SCI shares. Zacks Investment Research lowered shares of Service Corp. International from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Oppenheimer Holdings Inc. raised their price target on shares of Service Corp. International from $29.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Wells Fargo & Co. started coverage on shares of Service Corp. International in a research report on Tuesday, August 2nd. They issued a “market perform” rating on the stock. Finally, Bank of America Corp. started coverage on shares of Service Corp. International in a research report on Friday. They issued a “buy” rating and a $32.00 price target on the stock.
In other news, Director W Blair Waltrip sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $27.07, for a total value of $135,350.00. Following the sale, the director now directly owns 701,409 shares in the company, valued at approximately $18,987,141.63. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas L. Ryan sold 208,444 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $27.05, for a total transaction of $5,638,410.20. Following the completion of the sale, the chief executive officer now owns 1,283,553 shares in the company, valued at $34,720,108.65. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.
About Service Corp. International
Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments are funeral and cemetery operations. The Company conducts both funeral and cemetery operations in the United States and Canada. It operates over 1,535 funeral service locations and over 470 cemeteries, which are diversified across over 45 states, over eight Canadian provinces, the District of Columbia, and Puerto Rico.
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