CIBC Asset Management Inc increased its position in Service Co. International (NYSE: SCI – Get Rating) by 10.3% in the third quarter, according to its latest filings with the Securities and Exchange Commission. The institutional investor owned 703,122 shares of the company after acquiring an additional 65,458 shares during the quarter. CIBC Asset Management Inc owned his 0.45% of Service Co. International worth $40,598,000 as of the latest SEC filing.
Other institutional investors have also changed positions in the company. Baillie Gifford & Co. increased his position in Service Co. International stock by 7.4% in the second quarter. Baillie Gifford & Co. now owns 17,888,163 shares of the company worth $1,236,430,000 after he purchased an additional 1,232,317 shares during the previous quarter. State Street Corp increased its position in Service Co. International by 2.3% in the first quarter. State Street Corp now owns 4,610,877 shares worth $33488,000 after he purchased an additional 104,551 shares during this period. Mitsubishi UFJ Trust and Banking increased its stake in Service Co. International by 4.8% in the second quarter. After acquiring an additional 96,071 shares during this period, Mitsubishi UFJ Trust and Banking now owns 2,114,867 shares of the company worth $146.18 million. Maj Invest Holding AS increased its position in Service Co. International by 8.5% in the third quarter. Maj Invest Holding AS now owns 1,632,957 shares worth $17483,000 after acquiring a further 128,116 shares during this period. Finally, Ophir Asset Management Pty Ltd won a new position in Service Co. International in the second quarter worth approximately $17,294,000. Currently 84.68% of the shares are owned by institutional investors.
Service Co. International stock up 0.4%
SCI shares climbed $0.30 in midday trading on Friday to reach $69.72. The company’s trading volume was his 12,108 shares, compared to the company’s average trading volume of 834,246 shares. The company has a market cap of $10.72 billion, a P/E ratio of 16.69, a PEG ratio of 1.68 and a beta of 0.77. Service Co. International has a one-year low of $56.85 and a one-year 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 company has a 50-day moving average of $69.90 and a 200-day moving average of $66.62.
Service Co. International (NYSE:SCI – Get Rating) last reported quarterly results on Tuesday, November 1. The company reported earnings of $0.68 per share for him in the quarter, beating analyst consensus expectations of $0.51 by $0.17. The company’s revenue for the quarter was $977.72 million, compared to consensus expectations of $879.87 million. Service Co. International had a return on equity of 36.22% and a net profit margin of 16.48%. On average, equity research analysts expect Service Co. International to post earnings per share of 3.67 for the current year.
Service Co. International said on Wednesday, November 2, that its board of directors had approved a stock buyback plan authorizing the company to buy back $350 million of its stock. This repurchase authorization allows the company to reacquire up to 3.3% of its shares through open market purchases. A stock buyback plan usually indicates that a company’s board believes its stock is undervalued.
Service Co. International Increases Dividend
The company recently announced a quarterly dividend, which was paid out on Friday, December 30th. A dividend of $0.27 per share was issued to shareholders of record on Thursday, December 15. The ex-dividend date for this dividend was December 14 (Wednesday). This represents his $1.08 dividend and his 1.55% dividend yield on an annual basis. This is an increase from Service Co. International’s previous quarterly dividend of $0.25. Service Co. International’s dividend payout ratio (DPR) is currently 25.96%.
Insider activity at Service Co. International
In another Service Co. International news, director Alan R. Buckwalter III sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares sold for an average of $71.64, and the total transaction value he had was $1,432,800.00. After the transaction, the directors now directly own 32,326 shares of the company, valued at $2,315,834.64. The transaction was disclosed in SEC filings available at this link. In other news, VP Steven A. Tidwell sold 6,705 shares of the company on Wednesday, December 14th. The shares sold for an average of $70.28 for a total of $471,227.40. After the sale, the vice president now owns his 52,125 shares of the company, worth his $3,663,345. The sale was disclosed in SEC filings available at this hyperlink. Also, director Alan R. Buckwalter III sold 20,000 shares of the company in a transaction on Wednesday, November 9th. The shares sold for an average of $71.64, and the total transaction value he had was $1,432,800.00. After the transaction, the directors now own 32,326 shares of the Company stock valued at $2,315,834.64. Please see here for the disclosure of this sale. In the past 90 days, the insider has sold 37,005 shares of his company stock worth $2,604,736. The insider owns his 5.10% of the company’s shares.
Wall Street analyst opinion
Several research analysts recently published reports on equities. StockNews.com began coverage of Service Co. International stock with a report on Wednesday, October 12th. They issued a “pending” rating to the company. Truist Financial began coverage of Service Co. International in a research note on Friday, October 7th. They issued a ‘buy’ rating and a price target of $72.00.
Service Co., Ltd. International Profile
Service Corp. International is engaged in the provision of funeral products and services. It operates through the following business segments: Funerals and Cemeteries. The Funeral segment provides cremation-related services, including the use of home facilities and motor vehicles, service arrangements and instructions, removal, preparation, embalming, memorialization and catering.
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