Raymond James & Associates Grows Stock Position in Service Co. International (NYSE:SCI)

Raymond James & Associates boosted its stake in shares of Service Co. International (NYSE:SCI – Get Rating) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 94,893 shares of the company’s stock after buying an additional 847 shares during the period. Raymond James & Associates owned approximately 0.06% of Service Co. International worth $5,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. AE Wealth Management LLC raised its holdings in Service Co. International by 9.9% during the 3rd quarter. AE Wealth Management LLC now owns 6,729 shares of the company’s stock valued at $389,000 after buying an additional 608 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Service Co. International by 99.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 68,835 shares of the company’s stock valued at $3,975,000 after acquiring an additional 34,270 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in Service Co. International by 50.1% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 5,744 shares of the company’s stock valued at $332,000 after acquiring an additional 1,916 shares during the last quarter. Mayflower Financial Advisors LLC bought a new position in Service Co. International in the 3rd quarter valued at $599,000. Finally, Louisiana State Employees Retirement System bought a new position in Service Co. International in the 3rd quarter valued at $2,419,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Service Co. International Price Performance

SCI opened at $71.15 on Monday. Service Co. International has a 12-month low of $56.85 and a 12-month high of $75.11. The company has a current ratio of 0.48, a quick ratio of 0.43 and a debt-to-equity ratio of 2.46. The business’s fifty day simple moving average is $69.99 and its 200-day simple moving average is $66.56. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.68 and a beta of 0.77.

Service Co. International (NYSE:SCI – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.17. Service Co. International had a return on equity of 36.22% and a net margin of 16.48%. The business had revenue of $977.72 million for the quarter, compared to the consensus estimate of $879.87 million. On average, equities research analysts anticipate that Service Co. International will post 3.67 earnings per share for the current fiscal year.

Service Co. International announced that its board has approved a share repurchase plan on Wednesday, November 2nd that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Service Co. International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.52%. This is an increase from Service Co. International’s previous quarterly dividend of $0.25. Service Co. International’s dividend payout ratio (DPR) is presently 25.96%.

Insider Activity at Service Co. International

In related news, VP Steven A. Tidwell sold 6,705 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $70.28, for a total transaction of $471,227.40. Following the sale, the vice president now owns 52,125 shares of the company’s stock, valued at $3,663,345. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Steven A. Tidwell sold 6,705 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $70.28, for a total transaction of $471,227.40. Following the sale, the vice president now owns 52,125 shares of the company’s stock, valued at $3,663,345. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan R. Buckwalter III sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $71.64, for a total value of $1,432,800.00. Following the sale, the director now directly owns 32,326 shares in the company, valued at approximately $2,315,834.64. The disclosure for this sale can be found here. Insiders have sold a total of 37,005 shares of company stock valued at $2,604,736 over the last quarter. 5.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Truist Financial assumed coverage on Service Co. International in a research report on Friday, October 7th. They issued a “buy” rating and a $72.00 price objective on the stock. StockNews.com began coverage on Service Co. International in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Service Co. International Profile

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Service Corp. International engages in the provision of funeral goods and services. It operates through the following business segments: Funeral and Cemetery. 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.