Service Co. International (SCI) Shares Sold by Credit Suisse AG
Credit Suisse AG trimmed its stake in shares of Service Co. International (NYSE:SCI) by 12.8% during the third quarter, Holdings Channel reports. The fund owned 276,758 shares of the company’s stock after selling 40,786 shares during the quarter. Credit Suisse AG’s holdings in Service Co. International were worth $12,232,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its holdings in Service Co. International by 143.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,546 shares of the company’s stock worth $664,000 after buying an additional 10,924 shares during the period. Victory Capital Management Inc. lifted its holdings in Service Co. International by 13.3% in the 2nd quarter. Victory Capital Management Inc. now owns 106,408 shares of the company’s stock worth $3,808,000 after buying an additional 12,472 shares during the period. D.A. Davidson & CO. purchased a new stake in Service Co. International in the 2nd quarter worth approximately $1,832,000. Virginia Retirement Systems ET AL purchased a new stake in Service Co. International in the 2nd quarter worth approximately $608,000. Finally, State of Wisconsin Investment Board lifted its holdings in Service Co. International by 6.6% in the 2nd quarter. State of Wisconsin Investment Board now owns 1,040,052 shares of the company’s stock worth $37,223,000 after buying an additional 64,651 shares during the period. Hedge funds and other institutional investors own 87.15% of the company’s stock.
Several equities research analysts have weighed in on SCI shares. Credit Suisse Group increased their price objective on Service Co. International from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Zacks Investment Research upgraded Service Co. International from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. ValuEngine upgraded Service Co. International from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Raymond James increased their price objective on Service Co. International from $45.00 to $47.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 31st. Finally, Oppenheimer increased their price objective on Service Co. International from $42.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $46.17.
Service Co. International (NYSE:SCI) last released its earnings results on Monday, October 29th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The firm had revenue of $778.80 million during the quarter, compared to analysts’ expectations of $762.60 million. Service Co. International had a net margin of 15.76% and a return on equity of 22.47%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, research analysts expect that Service Co. International will post 1.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, December 13th. Service Co. International’s payout ratio is presently 43.87%.
In other news, VP Gregory T. Sangalis sold 23,617 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $44.91, for a total value of $1,060,639.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Steven A. Tidwell sold 9,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $45.90, for a total value of $426,870.00. Following the completion of the transaction, the vice president now owns 55,897 shares of the company’s stock, valued at approximately $2,565,672.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 314,400 shares of company stock valued at $14,012,985. 6.20% of the stock is currently owned by company insiders.
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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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