Service Corporation International (NYSE:SCI) Shares Acquired by Palisade Capital Management LP

Palisade Capital Management LP grew its holdings in Service Corporation International (NYSE:SCI) by 3.8% during the 1st quarter, Holdings Channel reports. The firm owned 40,660 shares of the company’s stock after buying an additional 1,484 shares during the period. Palisade Capital Management LP’s holdings in Service Corporation International were worth $3,261,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Service Corporation International during the fourth quarter valued at approximately $25,000. Quarry LP lifted its stake in shares of Service Corporation International by 359.8% during the fourth quarter. Quarry LP now owns 469 shares of the company’s stock valued at $37,000 after buying an additional 367 shares during the period. Mizuho Bank Ltd. purchased a new position in shares of Service Corporation International during the fourth quarter valued at approximately $40,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Service Corporation International during the fourth quarter valued at approximately $40,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Service Corporation International during the fourth quarter valued at approximately $52,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SCI shares. Wall Street Zen raised shares of Service Corporation International from a “sell” rating to a “hold” rating in a research note on Thursday, April 3rd. UBS Group cut their price target on shares of Service Corporation International from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.25.

Insider Activity at Service Corporation International

In other news, Director Tony Coelho sold 5,400 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $75.94, for a total value of $410,076.00. Following the transaction, the director owned 43,938 shares of the company’s stock, valued at approximately $3,336,651.72. This trade represents a 10.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

Service Corporation International Stock Performance

NYSE:SCI opened at $81.78 on Friday. The firm’s 50 day moving average is $78.33 and its two-hundred day moving average is $78.59. Service Corporation International has a fifty-two week low of $68.84 and a fifty-two week high of $89.37. The company has a quick ratio of 0.46, a current ratio of 0.51 and a debt-to-equity ratio of 2.87. The company has a market cap of $11.64 billion, a P/E ratio of 22.47, a P/E/G ratio of 2.03 and a beta of 0.92.

Service Corporation International (NYSE:SCI) last issued its earnings results on Wednesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. Service Corporation International had a net margin of 12.58% and a return on equity of 32.35%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $0.89 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts expect that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, June 13th. Service Corporation International’s dividend payout ratio is presently 35.16%.

Service Corporation International Company Profile

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.