Nordea Investment Management AB increased its position in shares of Service Corp. International (NYSE:SCI) by 71.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 42,231 shares of the company’s stock after buying an additional 17,662 shares during the period. Nordea Investment Management AB’s holdings in Service Corp. International were worth $1,121,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. BB&T Corp boosted its stake in shares of Service Corp. International by 7.1% in the second quarter. BB&T Corp now owns 30,029 shares of the company’s stock worth $813,000 after buying an additional 1,986 shares in the last quarter. Wright Investors Service Inc. bought a new stake in shares of Service Corp. International during the second quarter worth $233,000. World Asset Management Inc boosted its stake in shares of Service Corp. International by 8.4% in the second quarter. World Asset Management Inc now owns 10,347 shares of the company’s stock worth $280,000 after buying an additional 806 shares in the last quarter. Wedbush Securities Inc. bought a new stake in shares of Service Corp. International during the second quarter worth $202,000. Finally, IMS Capital Management boosted its stake in shares of Service Corp. International by 1.4% in the second quarter. IMS Capital Management now owns 43,674 shares of the company’s stock worth $1,181,000 after buying an additional 590 shares in the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.
Shares of Service Corp. International (NYSE:SCI) traded up 0.26% on Friday, hitting $27.27. 190,290 shares of the company were exchanged. Service Corp. International has a 52-week low of $20.21 and a 52-week high of $28.81. The firm has a market cap of $5.19 billion, a P/E ratio of 29.45 and a beta of 0.83. The company has a 50-day moving average price of $26.09 and a 200 day moving average price of $26.76.
Service Corp. International (NYSE:SCI) last released its earnings results on Wednesday, October 26th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.26. The company had revenue of $721.50 million for the quarter, compared to analyst estimates of $740.69 million. Service Corp. International had a net margin of 6.12% and a return on equity of 20.38%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. Analysts predict that Service Corp. International will post $1.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. Service Corp. International’s dividend payout ratio (DPR) is 56.52%.
SCI has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Service Corp. International from a “sell” rating to a “hold” rating in a research report on Saturday, July 30th. Wells Fargo & Co. started coverage on shares of Service Corp. International in a report on Tuesday, August 2nd. They issued a “market perform” rating for the company. Finally, Bank of America Corp. started coverage on shares of Service Corp. International in a report on Friday, September 30th. They issued a “buy” rating and a $32.00 price objective for the company.
In other news, insider Michael R. Webb sold 93,300 shares of the stock in a transaction dated Tuesday, September 13th. The shares were 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 in the company, valued at approximately $13,384,704.09. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director W Blair Waltrip sold 4,800 shares of the stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $25.28, for a total transaction of $121,344.00. Following the transaction, the director now owns 701,409 shares in the company, valued at $17,731,619.52. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.
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.