Service Corporation International (SCI) Stake Held by Utah Retirement Systems
Utah Retirement Systems continued to hold its position in Service Corporation International (NYSE:SCI) during the first quarter, Holdings Channel reports. The firm owned 34,108 shares of the company’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in Service Corporation International were worth $1,054,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SCI. Founders Capital Management purchased a new position in Service Corporation International during the first quarter valued at about $185,000. Glen Harbor Capital Management LLC boosted its position 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 valued at $187,000 after buying an additional 608 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Service Corporation International during the first quarter valued at about $200,000. Homrich & Berg purchased a new position in Service Corporation International during the first quarter valued at about $201,000. Finally, Baird Financial Group Inc. purchased a new position in Service Corporation International during the first quarter valued at about $202,000. Institutional investors and hedge funds own 87.08% of the company’s stock.
Service Corporation International (NYSE:SCI) last released its quarterly earnings results on Wednesday, April 26th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08. Service Corporation International had a return on equity of 23.87% and a net margin of 9.94%. The firm had revenue of $777.70 million for the quarter, compared to analyst estimates of $764.02 million. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s revenue was up 3.8% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, June 13th. This is a positive change from Service Corporation International’s previous quarterly dividend of $0.13. Service Corporation International’s payout ratio is 38.22%.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Service Corporation International from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Saturday, April 29th. Deutsche Bank AG started coverage on Service Corporation International in a report on Monday, May 1st. They issued a “buy” rating and a $40.00 price target on the stock. Finally, BidaskClub cut Service Corporation International from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.25.
In other Service Corporation International news, CEO Thomas L. Ryan sold 48,606 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.92, for a total value of $1,551,503.52. Following the sale, the chief executive officer now owns 1,123,715 shares in the company, valued at approximately $35,868,982.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas L. Ryan sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,175,109 shares in the company, valued at approximately $37,368,466.20. The disclosure for this sale can be found here. Insiders sold a total of 331,400 shares of company stock worth $10,639,948 in the last quarter. Corporate insiders own 6.20% of the company’s stock.
Service Corporation International Company Profile
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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