Voloridge Investment Management LLC Buys 23,892 Shares of Service Co. International (NYSE:SCI)

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Voloridge Investment Management LLC boosted its stake in shares of Service Co. International (NYSE:SCI) by 120.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 43,702 shares of the company’s stock after buying an additional 23,892 shares during the quarter. Voloridge Investment Management LLC’s holdings in Service Co. International were worth $2,089,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Marshall Wace LLP purchased a new position in Service Co. International in the 1st quarter worth approximately $60,000. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Service Co. International by 19.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 241,785 shares of the company’s stock worth $9,708,000 after purchasing an additional 39,785 shares during the last quarter. AE Wealth Management LLC bought a new position in shares of Service Co. International in the second quarter worth approximately $233,000. Arizona State Retirement System increased its stake in shares of Service Co. International by 1.6% in the second quarter. Arizona State Retirement System now owns 132,267 shares of the company’s stock worth $6,187,000 after buying an additional 2,081 shares during the period. Finally, BTIM Corp. increased its stake in shares of Service Co. International by 3.7% in the second quarter. BTIM Corp. now owns 257,402 shares of the company’s stock worth $12,042,000 after buying an additional 9,138 shares during the period. Institutional investors own 88.82% of the company’s stock.

NYSE SCI opened at $43.24 on Wednesday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.63 and a quick ratio of 0.58. The stock has a market capitalization of $8.05 billion, a PE ratio of 24.16, a PEG ratio of 2.06 and a beta of 0.86. Service Co. International has a 1 year low of $37.52 and a 1 year high of $48.69. The business’s 50-day moving average is $44.68 and its 200 day moving average is $45.84.

Service Co. International (NYSE:SCI) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $769.20 million for the quarter, compared to the consensus estimate of $790.05 million. Service Co. International had a net margin of 12.98% and a return on equity of 19.90%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. As a group, equities research analysts anticipate that Service Co. International will post 1.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.72 annualized dividend and a dividend yield of 1.67%. Service Co. International’s dividend payout ratio (DPR) is presently 40.22%.

Service Co. International announced that its Board of Directors has approved a stock buyback program on Wednesday, August 14th that authorizes the company to repurchase $246.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Several equities research analysts have weighed in on SCI shares. Credit Suisse Group reissued a “buy” rating and set a $52.00 price target on shares of Service Co. International in a research report on Monday, November 4th. ValuEngine lowered shares of Service Co. International from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

In other news, CEO Thomas L. Ryan sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.45, for a total value of $2,372,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,072,809 shares of the company’s stock, valued at approximately $50,904,787.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tammy R. Moore sold 12,698 shares of Service Co. International stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.29, for a total transaction of $600,488.42. Following the sale, the insider now directly owns 32,763 shares in the company, valued at approximately $1,549,362.27. The disclosure for this sale can be found here. Insiders have sold 70,598 shares of company stock worth $3,343,419 over the last three months. Insiders own 5.50% 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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Institutional Ownership by Quarter for Service Co. International (NYSE:SCI)

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