US Bancorp DE raised its holdings in Service Co. International (NYSE:SCI) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,187 shares of the company’s stock after buying an additional 6,949 shares during the quarter. US Bancorp DE’s holdings in Service Co. International were worth $1,200,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC lifted its stake in shares of Service Co. International by 59.6% in the 4th quarter. Acadian Asset Management LLC now owns 2,116,863 shares of the company’s stock valued at $79,000,000 after purchasing an additional 790,166 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Service Co. International by 3.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,511,714 shares of the company’s stock valued at $52,154,000 after purchasing an additional 44,045 shares during the period. Turtle Creek Asset Management Inc. lifted its stake in shares of Service Co. International by 37.3% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 1,365,250 shares of the company’s stock valued at $47,101,000 after purchasing an additional 371,250 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Service Co. International by 6.4% in the 3rd quarter. Macquarie Group Ltd. now owns 1,322,878 shares of the company’s stock valued at $45,640,000 after purchasing an additional 79,616 shares during the period. Finally, Rothschild Asset Management Inc. lifted its stake in shares of Service Co. International by 58.5% in the 3rd quarter. Rothschild Asset Management Inc. now owns 834,092 shares of the company’s stock valued at $28,776,000 after purchasing an additional 307,915 shares during the period. Hedge funds and other institutional investors own 86.97% of the company’s stock.
In other Service Co. International news, Director Tony Coelho sold 3,110 shares of Service Co. International stock in a transaction on Friday, February 16th. The stock was sold at an average price of $39.11, for a total transaction of $121,632.10. Following the completion of the transaction, the director now owns 63,240 shares in the company, valued at $2,473,316.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is currently owned by insiders.
Service Co. International (NYSE:SCI) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.05. The business had revenue of $812.73 million during the quarter, compared to analysts’ expectations of $823.66 million. Service Co. International had a return on equity of 23.68% and a net margin of 17.66%. During the same quarter in the previous year, the business earned $0.47 earnings per share. sell-side analysts predict that Service Co. International will post 1.81 EPS for the current fiscal year.
Service Co. International declared that its board has authorized a stock buyback program on Tuesday, February 13th that allows the company to repurchase $298.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.17 per share. This is a boost from Service Co. International’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.75%. Service Co. International’s payout ratio is presently 21.05%.
SCI has been the subject of a number of research analyst reports. Off Wall Street initiated coverage on Service Co. International in a research note on Friday, December 15th. They issued a “sell” rating for the company. Credit Suisse Group raised their target price on Service Co. International from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Deutsche Bank raised their target price on Service Co. International from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Oppenheimer restated a “buy” rating and issued a $42.00 target price on shares of Service Co. International in a research note on Thursday, January 18th. Finally, Bank of America lifted their price objective on Service Co. International from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Service Co. International presently has an average rating of “Buy” and a consensus target price of $43.60.
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Service Co. 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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