Louisiana State Employees Retirement System Lowers Stake in Service Co. International (NYSE:SCI)

Louisiana State Employees Retirement System reduced its position in shares of Service Co. International (NYSE:SCI) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,800 shares of the company’s stock after selling 2,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Service Co. International were worth $2,094,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SCI. BlackRock Inc. raised its position in shares of Service Co. International by 0.6% during the 2nd quarter. BlackRock Inc. now owns 16,219,458 shares of the company’s stock worth $758,745,000 after purchasing an additional 102,413 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Service Co. International by 1.6% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 615,530 shares of the company’s stock worth $28,794,000 after purchasing an additional 9,890 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Service Co. International by 77.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,441,570 shares of the company’s stock worth $67,437,000 after purchasing an additional 627,607 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Service Co. International by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 846,538 shares of the company’s stock worth $39,602,000 after purchasing an additional 25,455 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in shares of Service Co. International by 0.9% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 581,169 shares of the company’s stock worth $27,188,000 after purchasing an additional 5,224 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on SCI. ValuEngine downgraded shares of Service Co. International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James upped their price target 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.

SCI stock opened at $45.86 on Friday. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 2.10 and a beta of 0.90. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.99. Service Co. International has a 12 month low of $37.52 and a 12 month high of $48.69. The firm has a 50-day moving average of $46.80 and a two-hundred day moving average of $45.40.

Service Co. International (NYSE:SCI) last released its quarterly earnings data on Monday, July 29th. The company reported $0.47 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.47. The company had revenue of $812.57 million during the quarter, compared to the consensus estimate of $811.01 million. Service Co. International had a net margin of 12.88% and a return on equity of 20.55%. Service Co. International’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, equities analysts forecast that Service Co. International will post 1.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.57%. Service Co. International’s payout ratio is 40.22%.

Service Co. International announced that its board has approved a share buyback plan on Wednesday, August 14th that allows the company to repurchase $246.00 million in shares. This repurchase authorization allows the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

In other Service Co. International news, COO Sumner J. Waring III sold 86,200 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $48.02, for a total value of $4,139,324.00. Following the completion of the sale, the chief operating officer now owns 412,340 shares in the company, valued at approximately $19,800,566.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eric D. Tanzberger sold 230,300 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $47.06, for a total transaction of $10,837,918.00. Following the completion of the sale, the chief financial officer now owns 158,417 shares of the company’s stock, valued at approximately $7,455,104.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 575,633 shares of company stock valued at $27,215,196. 5.50% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for Service Co. International (NYSE:SCI)

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