Service Corporation International (NYSE:SCI) President Sumner J. Waring III Sells 56,100 Shares

Key Points

• Service Corporation International President, Sumner J. Waring III, sold 56,100 shares at an average price of $76.57, resulting in a total transaction value of about $4.3 million and a 15.97% decrease in ownership.
• The company's stock recently traded at $78.49, with a market cap of $11.17 billion, and a price-to-earnings ratio of 21.27.
• Service Corporation International reported $0.88 EPS for the last quarter, beating estimates, and announced a quarterly dividend of $0.32 per share, yielding 1.6%.

Service Corporation International (NYSE:SCI - Get Free Report) President Sumner J. Waring III sold 56,100 shares of Service Corporation International stock in a transaction on 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 of the company's stock, valued at $22,602,851.44. This represents a 15.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Service Corporation International Trading Up 1.5%

Shares of NYSE:SCI traded up $1.16 on Friday, reaching $80.54. 312,190 shares of the company traded hands, compared to its average volume of 1,172,774. The stock has a market capitalization of $11.29 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.92 and a beta of 0.90. The business's 50-day simple moving average is $79.15 and its 200 day simple moving average is $78.52. 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 52 week low of $71.75 and a 52 week high of $89.37.

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

Service Corporation International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SCI shares. Raymond James Financial reissued an "outperform" rating and set a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a report on Monday. UBS Group reduced 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 report on Friday, May 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.50.

Institutional Investors Weigh In On Service Corporation International

Several institutional investors have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey increased its position in shares of Service Corporation International by 2.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 52,876 shares of the company's stock valued at $4,304,000 after acquiring an additional 1,446 shares during the period. Tobam grew its stake in shares of Service Corporation International by 354.8% in the second quarter. Tobam now owns 17,915 shares of the company's stock worth $1,458,000 after purchasing an additional 13,976 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its stake in shares of Service Corporation International by 28.1% in the second quarter. Campbell & CO Investment Adviser LLC now owns 33,193 shares of the company's stock worth $2,702,000 after purchasing an additional 7,273 shares during the last quarter. AGF Management Ltd. purchased a new position in Service Corporation International during the 2nd quarter valued at about $3,171,000. Finally, Strs Ohio raised its position in Service Corporation International by 21.9% during the 2nd quarter. Strs Ohio now owns 23,479 shares of the company's stock valued at $1,911,000 after purchasing an additional 4,216 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

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.