LPL Financial LLC Sells 3,703 Shares of Service Corporation International (NYSE:SCI)

Key Points

• LPL Financial LLC reduced its stake in Service Corporation International (NYSE:SCI) by 2.7%, owning 132,634 shares worth approximately $10.6 million at the end of the first quarter.
• The company reported $0.88 earnings per share for its last quarter, exceeding analysts' expectations of $0.84, while also indicating a 3.0% year-over-year revenue increase.
• Service Corporation International announced a quarterly dividend of $0.32 per share, scheduled for payment on September 30th, representing an annualized yield of 1.6%.

LPL Financial LLC lowered its stake in Service Corporation International (NYSE:SCI - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 132,634 shares of the company's stock after selling 3,703 shares during the quarter. LPL Financial LLC owned about 0.09% of Service Corporation International worth $10,637,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in Service Corporation International during the fourth quarter worth approximately $435,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Service Corporation International during the fourth quarter worth $40,000. Bank of Montreal Can grew its stake in shares of Service Corporation International by 7.3% in the fourth quarter. Bank of Montreal Can now owns 29,594 shares of the company's stock worth $2,362,000 after purchasing an additional 2,024 shares during the last quarter. Invesco Ltd. grew its stake in shares of Service Corporation International by 4.2% in the fourth quarter. Invesco Ltd. now owns 260,267 shares of the company's stock worth $20,775,000 after purchasing an additional 10,521 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Service Corporation International by 34.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 159,250 shares of the company's stock valued at $12,711,000 after buying an additional 41,158 shares during the period. Institutional investors and hedge funds own 85.53% of the company's stock.

Insider Activity

In related news, President Sumner J. Waring III sold 56,100 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $76.57, for a total transaction of $4,295,577.00. Following the transaction, the president owned 295,192 shares in the company, valued at $22,602,851.44. The trade was a 15.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.40% of the company's stock.

Service Corporation International Trading Up 0.6%

NYSE:SCI traded up $0.50 during trading hours on Tuesday, reaching $80.81. The company's stock had a trading volume of 576,243 shares, compared to its average volume of 1,172,691. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.96 and a beta of 0.90. The firm has a 50-day simple moving average of $79.25 and a 200-day simple moving average of $78.58. Service Corporation International has a 1 year low of $71.75 and a 1 year high of $89.37. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 0.61.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.04. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter last year, the company earned $0.79 EPS. The firm's revenue was up 3.0% compared to the same quarter last year. Research analysts expect that Service Corporation International will post 3.84 EPS for the current fiscal year.

Service Corporation International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.32 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.6%. Service Corporation International's payout ratio is presently 34.69%.

Analysts Set New Price Targets

SCI has been the topic of a number of analyst reports. Raymond James Financial restated an "outperform" rating and issued a $90.00 target price (up previously from $85.00) on shares of Service Corporation International in a report on Monday, August 4th. UBS Group dropped 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Service Corporation International has a consensus rating of "Moderate Buy" and an average target price of $90.50.

Service Corporation International 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.