Service Corporation International (SCI) Stake Raised by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in shares of Service Corporation International (NYSE:SCI) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,639 shares of the company’s stock after buying an additional 2,734 shares during the period. Nordea Investment Management AB’s holdings in Service Corporation International were worth $2,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Rothschild Asset Management Inc. grew its holdings in shares of Service Corporation International by 58.5% in the third quarter. Rothschild Asset Management Inc. now owns 834,092 shares of the company’s stock valued at $28,776,000 after purchasing an additional 307,915 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Service Corporation International by 13.7% in the third quarter. Pacer Advisors Inc. now owns 31,282 shares of the company’s stock valued at $1,079,000 after purchasing an additional 3,778 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Service Corporation International in the third quarter valued at $510,000. Cipher Capital LP grew its holdings in shares of Service Corporation International by 160.9% in the third quarter. Cipher Capital LP now owns 31,646 shares of the company’s stock valued at $1,092,000 after purchasing an additional 19,517 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Service Corporation International by 6.4% in the third quarter. Macquarie Group Ltd. now owns 1,322,878 shares of the company’s stock valued at $45,640,000 after purchasing an additional 79,616 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. Zacks Investment Research raised shares of Service Corporation International from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, August 25th. Oppenheimer reaffirmed a “buy” rating and set a $39.00 price objective on shares of Service Corporation International in a research note on Tuesday, September 26th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $40.00 price objective (up from $38.00) on shares of Service Corporation International in a research note on Friday, November 3rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.75.

In other news, insider Michael R. Webb sold 202,000 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $34.70, for a total transaction of $7,009,400.00. Following the completion of the sale, the insider now directly owns 622,903 shares of the company’s stock, valued at $21,614,734.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory T. Sangalis sold 72,300 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $35.40, for a total transaction of $2,559,420.00. Following the sale, the vice president now directly owns 129,883 shares of the company’s stock, valued at $4,597,858.20. The disclosure for this sale can be found here. Insiders have sold 464,700 shares of company stock valued at $16,248,830 over the last ninety days. 6.20% of the stock is owned by insiders.

Service Corporation International (SCI) traded down $0.16 during midday trading on Thursday, reaching $37.49. 750,200 shares of the company’s stock traded hands, compared to its average volume of 1,060,777. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.70 and a quick ratio of 0.65. The stock has a market capitalization of $7,058.25, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.24 and a beta of 0.96. Service Corporation International has a 52 week low of $26.50 and a 52 week high of $37.88.

Service Corporation International (NYSE:SCI) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.27 by $0.06. The company had revenue of $731.30 million during the quarter, compared to analyst estimates of $735.62 million. Service Corporation International had a net margin of 11.83% and a return on equity of 24.85%. Service Corporation International’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. research analysts anticipate that Service Corporation International will post 1.49 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 14th. Service Corporation International’s payout ratio is 31.58%.

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About Service Corporation 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 include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.

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Institutional Ownership by Quarter for Service Corporation International (NYSE:SCI)

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