Townsquare Capital LLC Makes New Investment in Service Corporation International $SCI

Key Points

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Townsquare Capital LLC bought a new position in shares of Service Corporation International (NYSE:SCI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,846 shares of the company's stock, valued at approximately $308,000.

Other large investors have also modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Service Corporation International by 225.9% during the 1st quarter. Assetmark Inc. now owns 352 shares of the company's stock worth $28,000 after buying an additional 244 shares during the period. Quarry LP boosted its holdings in 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 acquiring an additional 367 shares during the period. GeoWealth Management LLC bought a new stake in Service Corporation International during the fourth quarter valued at about $53,000. IFP Advisors Inc boosted its holdings in Service Corporation International by 87.2% during the first quarter. IFP Advisors Inc now owns 700 shares of the company's stock valued at $60,000 after acquiring an additional 326 shares during the period. Finally, Fifth Third Bancorp boosted its stake in Service Corporation International by 12.2% during the 1st quarter. Fifth Third Bancorp now owns 1,426 shares of the company's stock valued at $114,000 after purchasing an additional 155 shares during the period. 85.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SCI shares. Raymond James Financial restated an "outperform" rating and set a $90.00 target price (up previously from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. UBS Group reduced their price objective on Service Corporation International from $90.00 to $88.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.50.

Service Corporation International Stock Up 0.0%

NYSE SCI opened at $80.67 on Tuesday. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 0.61. The firm has a 50-day simple moving average of $79.48 and a 200 day simple moving average of $78.62. Service Corporation International has a twelve month low of $71.75 and a twelve month high of $89.37. The stock has a market cap of $11.31 billion, a PE ratio of 21.86, a PEG ratio of 1.96 and a beta of 0.90.

Service Corporation International (NYSE:SCI - Get Free Report) last released 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. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter last year, the company earned $0.79 earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Announces Dividend

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

Insider Buying and Selling

In other news, Director Tony Coelho sold 7,850 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $80.60, for a total transaction of $632,710.00. Following the completion of the transaction, the director directly owned 36,088 shares of the company's stock, valued at approximately $2,908,692.80. This trade represents a 17.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas L. Ryan sold 150,000 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $80.49, for a total transaction of $12,073,500.00. Following the transaction, the chief executive officer owned 982,333 shares of the company's stock, valued at approximately $79,067,983.17. This represents a 13.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 213,950 shares of company stock valued at $17,001,787 over the last ninety days. 4.40% of the stock is owned by company insiders.

About Service Corporation International

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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