Acadian Asset Management LLC Increases Stake in Service Co. International (NYSE:SCI)

Acadian Asset Management LLC grew its position in Service Co. International (NYSE:SCIGet Rating) by 20.0% during the 4th quarter, Holdings Channel reports. The fund owned 103,571 shares of the company’s stock after buying an additional 17,250 shares during the quarter. Acadian Asset Management LLC’s holdings in Service Co. International were worth $7,344,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in Service Co. International by 116.4% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,107,076 shares of the company’s stock valued at $126,973,000 after purchasing an additional 1,133,160 shares during the period. BlackRock Inc. boosted its stake in shares of Service Co. International by 7.7% in the third quarter. BlackRock Inc. now owns 15,653,777 shares of the company’s stock valued at $943,297,000 after buying an additional 1,122,616 shares in the last quarter. CWM LLC acquired a new position in Service Co. International during the fourth quarter worth $37,115,000. Allspring Global Investments Holdings LLC purchased a new position in Service Co. International in the fourth quarter worth $35,444,000. Finally, Millennium Management LLC lifted its holdings in Service Co. International by 133.2% in the third quarter. Millennium Management LLC now owns 392,571 shares of the company’s stock valued at $23,656,000 after acquiring an additional 224,228 shares during the period. Institutional investors and hedge funds own 84.03% of the company’s stock.

Shares of NYSE:SCI opened at $67.80 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.59 and a debt-to-equity ratio of 2.15. Service Co. International has a 52-week low of $51.51 and a 52-week high of $72.07. The stock’s fifty day simple moving average is $66.67 and its 200-day simple moving average is $65.88. The company has a market capitalization of $10.76 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.17 and a beta of 0.73.

Service Co. International (NYSE:SCIGet Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.36. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1 billion. Service Co. International had a net margin of 19.00% and a return on equity of 40.43%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.32 EPS. On average, sell-side analysts anticipate that Service Co. International will post 3.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be paid a dividend of $0.52 per share. This is an increase from Service Co. International’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, June 14th. This represents a $2.08 annualized dividend and a dividend yield of 3.07%. Service Co. International’s dividend payout ratio is presently 21.14%.

Service Co. International announced that its board has approved a stock buyback program on Wednesday, May 4th that permits the company to repurchase $394.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Several brokerages recently commented on SCI. Credit Suisse Group raised their price objective on shares of Service Co. International from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, February 16th. Oppenheimer lifted their price target on shares of Service Co. International from $64.00 to $74.00 in a research report on Monday, May 9th. Zacks Investment Research downgraded Service Co. International from a “strong-buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a research note on Tuesday, April 19th. Finally, StockNews.com initiated coverage on shares of Service Co. International in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $76.00.

Service Co. International Profile (Get Rating)

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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