Envestnet Asset Management Inc. Reduces Stock Position in Service Corporation International (NYSE:SCI)

Envestnet Asset Management Inc. trimmed its holdings in Service Corporation International (NYSE:SCI) by 10.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 206,879 shares of the company’s stock after selling 24,826 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of Service Corporation International worth $16,592,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Investment Advisory Services LLC acquired a new position in Service Corporation International during the first quarter worth $549,000. Palisade Capital Management LP increased its stake in Service Corporation International by 3.8% during the first quarter. Palisade Capital Management LP now owns 40,660 shares of the company’s stock worth $3,261,000 after purchasing an additional 1,484 shares during the period. Principal Financial Group Inc. increased its stake in Service Corporation International by 136.1% during the first quarter. Principal Financial Group Inc. now owns 782,429 shares of the company’s stock worth $62,751,000 after purchasing an additional 451,068 shares during the period. Teacher Retirement System of Texas increased its stake in Service Corporation International by 12.6% during the first quarter. Teacher Retirement System of Texas now owns 31,019 shares of the company’s stock worth $2,488,000 after purchasing an additional 3,473 shares during the period. Finally, DAVENPORT & Co LLC increased its stake in Service Corporation International by 22.1% during the first quarter. DAVENPORT & Co LLC now owns 6,497 shares of the company’s stock worth $521,000 after purchasing an additional 1,178 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Service Corporation International news, Director Tony Coelho sold 5,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $75.94, for a total value of $410,076.00. Following the sale, the director owned 43,938 shares in the company, valued at approximately $3,336,651.72. This trade represents a 10.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by company insiders.

Service Corporation International Trading Down 0.6%

Shares of SCI opened at $79.94 on Friday. The stock has a fifty day moving average of $79.00 and a two-hundred day moving average of $78.54. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.46 and a current ratio of 0.51. The company has a market capitalization of $11.38 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92. Service Corporation International has a fifty-two week low of $70.46 and a fifty-two week high of $89.37.

Service Corporation International (NYSE:SCI) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. Service Corporation International had a return on equity of 32.35% and a net margin of 12.58%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $0.89 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts forecast that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.60%. Service Corporation International’s payout ratio is 35.16%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SCI shares. Wall Street Zen upgraded Service Corporation International from a “sell” rating to a “hold” rating in a research note on Thursday, April 3rd. UBS Group cut their price target on Service Corporation International from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.25.

Service Corporation International Company Profile

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.