Gotham Asset Management LLC cut its holdings in Service Co. International (NYSE:SCI) by 40.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,453 shares of the company’s stock after selling 16,150 shares during the quarter. Gotham Asset Management LLC’s holdings in Service Co. International were worth $1,197,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its stake in Service Co. International by 1.5% in the first quarter. BlackRock Inc. now owns 14,819,115 shares of the company’s stock valued at $756,516,000 after acquiring an additional 214,074 shares during the last quarter. Select Equity Group L.P. lifted its stake in Service Co. International by 2.0% in the fourth quarter. Select Equity Group L.P. now owns 13,097,643 shares of the company’s stock valued at $643,094,000 after acquiring an additional 254,885 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Service Co. International by 1.9% in the first quarter. Alliancebernstein L.P. now owns 7,085,860 shares of the company’s stock valued at $361,733,000 after acquiring an additional 134,427 shares during the last quarter. FIL Ltd lifted its stake in Service Co. International by 0.4% in the first quarter. FIL Ltd now owns 5,536,475 shares of the company’s stock valued at $282,637,000 after acquiring an additional 22,488 shares during the last quarter. Finally, Sarasin & Partners LLP lifted its stake in Service Co. International by 21.7% in the first quarter. Sarasin & Partners LLP now owns 3,582,756 shares of the company’s stock valued at $182,900,000 after acquiring an additional 638,504 shares during the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.
Separately, Oppenheimer lifted their price target on shares of Service Co. International from $54.00 to $59.00 in a research report on Monday, May 10th.
Service Co. International (NYSE:SCI) last released its quarterly earnings results on Sunday, May 2nd. The company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.33. Service Co. International had a net margin of 17.50% and a return on equity of 37.81%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $955.77 million. During the same quarter last year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. As a group, research analysts expect that Service Co. International will post 2.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Monday, June 14th. Service Co. International’s dividend payout ratio (DPR) is currently 28.87%.
Service Co. International announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Tammy R. Moore sold 3,689 shares of the business’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $56.51, for a total transaction of $208,465.39. Following the transaction, the insider now owns 38,616 shares of the company’s stock, valued at $2,182,190.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory T. Sangalis sold 20,700 shares of the business’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $53.42, for a total transaction of $1,105,794.00. Following the transaction, the vice president now directly owns 144,999 shares in the company, valued at approximately $7,745,846.58. The disclosure for this sale can be found here. Insiders have sold 64,389 shares of company stock worth $3,554,659 in the last ninety days. 5.20% of the stock is currently owned by insiders.
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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