CCM Investment Group LLC purchased a new position in shares of Service Corporation International (NYSE:SCI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,237 shares of the company's stock, valued at approximately $817,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SCI. Nuveen LLC acquired a new position in Service Corporation International in the first quarter valued at $26,674,000. Invesco Ltd. increased its stake in Service Corporation International by 46.5% in the first quarter. Invesco Ltd. now owns 381,307 shares of the company's stock valued at $30,581,000 after purchasing an additional 121,040 shares during the period. Townsquare Capital LLC acquired a new position in Service Corporation International in the first quarter valued at $308,000. Morton Community Bank increased its stake in Service Corporation International by 0.6% in the first quarter. Morton Community Bank now owns 42,655 shares of the company's stock valued at $3,421,000 after purchasing an additional 275 shares during the period. Finally, Savvy Advisors Inc. acquired a new position in Service Corporation International in the first quarter valued at $224,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Raymond James Financial restated an "outperform" rating and issued a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. UBS Group dropped their price objective 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Service Corporation International has an average rating of "Moderate Buy" and a consensus target price of $90.50.
Read Our Latest Research Report on SCI
Insider Activity
In other news, CEO Thomas L. Ryan sold 150,000 shares of Service Corporation International stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $80.49, for a total value of $12,073,500.00. Following the sale, the chief executive officer owned 982,333 shares of the company's stock, valued at $79,067,983.17. The trade was a 13.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Sumner J. Waring III sold 56,100 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $76.57, for a total transaction of $4,295,577.00. Following the sale, the president directly owned 295,192 shares in the company, valued at approximately $22,602,851.44. This represents a 15.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,950 shares of company stock valued at $17,001,787 over the last quarter. Corporate insiders own 4.40% of the company's stock.
Service Corporation International Stock Performance
Shares of NYSE:SCI traded up $0.19 during midday trading on Friday, hitting $80.86. The stock had a trading volume of 165,676 shares, compared to its average volume of 1,162,752. The company has a market capitalization of $11.34 billion, a PE ratio of 21.91, a P/E/G ratio of 1.99 and a beta of 0.90. The stock has a 50 day moving average price of $79.43 and a two-hundred day moving average price of $78.62. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.19. Service Corporation International has a 1 year low of $71.75 and a 1 year high of $89.37.
Service Corporation International (NYSE:SCI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.04. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. As a group, equities analysts predict that Service Corporation International will post 3.84 earnings per share for the current fiscal year.
Service Corporation International Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. Service Corporation International's payout ratio is presently 34.69%.
Service Corporation International Profile
(
Free Report)
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.
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