Westpac Banking Corp cut its stake in Service Co. International (NYSE:SCI) by 6.6% in the second quarter, Holdings Channel.com reports. The firm owned 148,157 shares of the company’s stock after selling 10,456 shares during the period. Westpac Banking Corp’s holdings in Service Co. International were worth $6,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Advisor Group Inc. increased its position in shares of Service Co. International by 75.6% during the 2nd quarter. Advisor Group Inc. now owns 15,208 shares of the company’s stock worth $712,000 after purchasing an additional 6,548 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Service Co. International by 1.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 33,520 shares of the company’s stock worth $1,568,000 after purchasing an additional 530 shares in the last quarter. Aperio Group LLC increased its position in shares of Service Co. International by 7.8% during the 2nd quarter. Aperio Group LLC now owns 54,456 shares of the company’s stock worth $2,547,000 after purchasing an additional 3,960 shares in the last quarter. Lee Financial Co acquired a new stake in shares of Service Co. International during the 2nd quarter worth about $33,000. Finally, Svenska Handelsbanken AB publ increased its position in shares of Service Co. International by 29.8% during the 2nd quarter. Svenska Handelsbanken AB publ now owns 52,300 shares of the company’s stock worth $2,447,000 after purchasing an additional 12,000 shares in the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.
In other Service Co. International news, Director Marcus A. Watts sold 8,130 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.71, for a total transaction of $371,622.30. Following the sale, the director now owns 70,544 shares of the company’s stock, valued at approximately $3,224,566.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas L. Ryan sold 108,099 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $47.31, for a total transaction of $5,114,163.69. Following the sale, the chief executive officer now directly owns 1,051,645 shares in the company, valued at approximately $49,753,324.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 546,222 shares of company stock worth $24,322,640. Insiders own 5.50% of the company’s stock.
NYSE:SCI traded up $0.77 during mid-day trading on Friday, reaching $47.97. 15,805 shares of the company were exchanged, compared to its average volume of 824,058. Service Co. International has a 12 month low of $37.52 and a 12 month high of $48.54. The company has a fifty day moving average of $46.85 and a 200 day moving average of $43.65. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.99. The stock has a market cap of $8.63 billion, a PE ratio of 26.68, a PEG ratio of 2.17 and a beta of 0.92.
Service Co. International (NYSE:SCI) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Service Co. International had a net margin of 12.88% and a return on equity of 20.55%. The firm had revenue of $812.57 million for the quarter, compared to analyst estimates of $811.01 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Service Co. International will post 1.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Thursday, September 12th. Service Co. International’s dividend payout ratio is currently 40.22%.
SCI has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Service Co. International from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Raymond James increased their target price on shares of Service Co. International from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, ValuEngine upgraded shares of Service Co. International from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $50.33.
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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