BARING ASSET MANAGEMENT Ltd Reduces Position in Service Corporation International (SCI)
BARING ASSET MANAGEMENT Ltd cut its position in shares of Service Corporation International (NYSE:SCI) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,121 shares of the company’s stock after selling 514 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Service Corporation International were worth $2,479,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in Service Corporation International by 2.1% in the second quarter. IFP Advisors Inc now owns 4,232 shares of the company’s stock worth $142,000 after buying an additional 89 shares in the last quarter. Founders Capital Management acquired a new stake in Service Corporation International during the first quarter worth approximately $185,000. Glen Harbor Capital Management LLC raised its stake in Service Corporation International by 11.1% in the first quarter. Glen Harbor Capital Management LLC now owns 6,064 shares of the company’s stock worth $187,000 after buying an additional 608 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Service Corporation International during the first quarter worth approximately $200,000. Finally, Homrich & Berg acquired a new stake in Service Corporation International during the first quarter worth approximately $201,000. 86.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Service Corporation International (NYSE SCI) opened at 35.80 on Thursday. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 19.40 and a beta of 0.93. The firm’s 50-day moving average is $34.30 and its 200-day moving average is $32.02. Service Corporation International has a 12-month low of $24.90 and a 12-month high of $35.89.
Service Corporation International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $773.20 million during the quarter, compared to analysts’ expectations of $769.57 million. Service Corporation International had a net margin of 11.59% and a return on equity of 24.67%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. Analysts predict that Service Corporation International will post $1.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, September 14th. Service Corporation International’s payout ratio is 32.43%.
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A number of research firms have commented on SCI. BidaskClub raised shares of Service Corporation International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research lowered shares of Service Corporation International from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Deutsche Bank AG began coverage on shares of Service Corporation International in a report on Monday, May 1st. They set a “buy” rating and a $40.00 target price for the company. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $37.00 target price (up previously from $34.00) on shares of Service Corporation International in a report on Friday, July 21st. Five research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $37.00.
In other Service Corporation International news, CEO Thomas L. Ryan sold 100,000 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $31.80, for a total value of $3,180,000.00. Following the transaction, the chief executive officer now directly owns 1,175,109 shares of the company’s stock, valued at $37,368,466.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas L. Ryan sold 51,394 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $32.55, for a total transaction of $1,672,874.70. Following the completion of the transaction, the chief executive officer now directly owns 1,119,503 shares in the company, valued at $36,439,822.65. The disclosure for this sale can be found here. Insiders sold 210,000 shares of company stock valued at $6,725,578 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.
About Service Corporation 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 include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.
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