BlackRock Inc. Has $621.79 Million Holdings in Service Co. International (SCI)
BlackRock Inc. boosted its stake in Service Co. International (NYSE:SCI) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 17,373,394 shares of the company’s stock after purchasing an additional 499,259 shares during the period. BlackRock Inc. owned 0.10% of Service Co. International worth $621,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its position in Service Co. International by 15.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,715 shares of the company’s stock worth $442,000 after buying an additional 1,609 shares during the period. Hirtle Callaghan & Co LLC acquired a new stake in Service Co. International in the second quarter worth $161,000. Sciencast Management LP acquired a new stake in Service Co. International in the first quarter worth $1,274,000. Allianz Asset Management GmbH increased its position in Service Co. International by 30.5% in the first quarter. Allianz Asset Management GmbH now owns 1,291,491 shares of the company’s stock worth $48,742,000 after buying an additional 301,932 shares during the period. Finally, Principal Financial Group Inc. increased its position in Service Co. International by 1.3% in the first quarter. Principal Financial Group Inc. now owns 813,201 shares of the company’s stock worth $30,690,000 after buying an additional 10,599 shares during the period. 85.62% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised Service Co. International from a “sell” rating to a “hold” rating in a research report on Thursday, June 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $44.20.
Service Co. International (NYSE:SCI) last issued its quarterly earnings results on Monday, July 30th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $796.09 million for the quarter, compared to analyst estimates of $792.56 million. Service Co. International had a return on equity of 23.37% and a net margin of 15.59%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. sell-side analysts anticipate that Service Co. International will post 1.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from Service Co. International’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, September 13th. Service Co. International’s dividend payout ratio (DPR) is 43.87%.
In other news, VP Steven A. Tidwell sold 17,384 shares of the firm’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $36.63, for a total transaction of $636,775.92. Following the transaction, the vice president now directly owns 50,847 shares of the company’s stock, valued at $1,862,525.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Blair Waltrip sold 50,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 616,244 shares in the company, valued at $26,190,370. The disclosure for this sale can be found here. Insiders have sold 864,769 shares of company stock worth $34,546,385 over the last three months. Corporate insiders own 6.60% of the company’s stock.
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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