Today, BB&T Corp sells partial stakes of Service Corp. International (SCI)

Today, BB&T Corp sells partial stakes of Service Corp. International (SCI)
BB&T Corp reduced its stake in Service Corp. International (NYSE:SCI) by 5.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,281 shares of the company’s stock after selling 1,748 shares during the period. BB&T Corp’s holdings in Service Corp. International were worth $751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCI. Three Peaks Capital Management LLC boosted its position in shares of Service Corp. International by 4.2% in the second quarter. Three Peaks Capital Management LLC now owns 302,130 shares of the company’s stock valued at $8,170,000 after buying an additional 12,314 shares during the period. State Board of Administration of Florida Retirement System raised its position in Service Corp. International by 9.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 304,057 shares of the company’s stock valued at $8,221,000 after buying an additional 26,503 shares in the last quarter. California Public Employees Retirement System raised its position in Service Corp. International by 1.9% in the second quarter. California Public Employees Retirement System now owns 389,725 shares of the company’s stock valued at $10,538,000 after buying an additional 7,200 shares in the last quarter. SG Americas Securities LLC raised its position in Service Corp. International by 12.2% in the second quarter. SG Americas Securities LLC now owns 62,349 shares of the company’s stock valued at $1,686,000 after buying an additional 6,778 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in Service Corp. International during the second quarter valued at about $2,144,000. 83.91% of the stock is owned by hedge funds and other institutional investors.

Service Corp. International (NYSE:SCI) opened at 27.27 on Friday. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 29.45 and a beta of 0.83. Service Corp. International has a 1-year low of $20.21 and a 1-year high of $28.81. The firm’s 50-day moving average price is $26.09 and its 200 day moving average price is $26.76.

Service Corp. International (NYSE:SCI) last posted its earnings results on Wednesday, October 26th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $721.50 million for the quarter, compared to analyst estimates of $740.69 million. Service Corp. International had a return on equity of 20.38% and a net margin of 6.12%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. On average, analysts predict that Service Corp. International will post $1.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. Service Corp. International’s payout ratio is presently 56.52%.

SCI has been the subject of several recent analyst reports. Zacks Investment Research lowered Service Corp. International from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Bank of America Corp. initiated coverage on Service Corp. International in a research note on Friday, September 30th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Wells Fargo & Co. initiated coverage on Service Corp. International in a research note on Tuesday, August 2nd. They set a “market perform” rating for the company.

In related news, insider Michael R. Webb sold 93,300 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $26.03, for a total transaction of $2,428,599.00. Following the transaction, the insider now directly owns 514,203 shares of the company’s stock, valued at approximately $13,384,704.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director W Blair Waltrip sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $25.28, for a total value of $121,344.00. Following the transaction, the director now directly owns 701,409 shares in the company, valued at $17,731,619.52. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

About Service Corp. International

Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments are funeral and cemetery operations. The Company conducts both funeral and cemetery operations in the United States and Canada. It operates over 1,535 funeral service locations and over 470 cemeteries, which are diversified across over 45 states, over eight Canadian provinces, the District of Columbia, and Puerto Rico.

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