Several other equities analysts have also recently issued reports on SCI. Zacks Investment Research raised Service Co. International from a sell rating to a hold rating and set a $40.00 price objective on the stock in a research report on Saturday, October 28th. Credit Suisse Group upped their price objective on Service Co. International from $40.00 to $46.00 and gave the company an outperform rating in a research report on Monday, February 5th. Oppenheimer reaffirmed a buy rating and issued a $42.00 price objective on shares of Service Co. International in a research report on Thursday, January 18th. Finally, Off Wall Street assumed coverage on Service Co. International in a research report on Friday, December 15th. They issued a sell rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $42.50.
Service Co. International (SCI) opened at $38.85 on Thursday. The stock has a market capitalization of $7,187.60, a P/E ratio of 13.63, a P/E/G ratio of 1.82 and a beta of 0.95. Service Co. International has a 12-month low of $30.02 and a 12-month high of $40.28. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.58 and a quick ratio of 0.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This is a boost from Service Co. International’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.75%. Service Co. International’s dividend payout ratio is 21.05%.
Service Co. International declared that its board has initiated a stock repurchase plan on Tuesday, February 13th that allows the company to repurchase $298.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, insider R L. Waltrip sold 84,679 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $37.90, for a total transaction of $3,209,334.10. Following the transaction, the insider now directly owns 765,762 shares of the company’s stock, valued at approximately $29,022,379.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Elisabeth G. Nash sold 47,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $35.64, for a total value of $1,675,080.00. Following the transaction, the vice president now directly owns 164,441 shares in the company, valued at $5,860,677.24. The disclosure for this sale can be found here. 6.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Profund Advisors LLC lifted its holdings in shares of Service Co. International by 6.1% during the 4th quarter. Profund Advisors LLC now owns 23,484 shares of the company’s stock valued at $876,000 after buying an additional 1,349 shares during the period. Leavell Investment Management Inc. lifted its holdings in shares of Service Co. International by 9.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 19,924 shares of the company’s stock valued at $687,000 after buying an additional 1,700 shares during the period. Amalgamated Bank lifted its holdings in shares of Service Co. International by 5.5% during the 4th quarter. Amalgamated Bank now owns 38,267 shares of the company’s stock valued at $1,428,000 after buying an additional 1,994 shares during the period. Aperio Group LLC lifted its holdings in shares of Service Co. International by 4.2% during the 4th quarter. Aperio Group LLC now owns 51,509 shares of the company’s stock valued at $1,922,000 after buying an additional 2,084 shares during the period. Finally, BB&T Corp lifted its holdings in shares of Service Co. International by 7.6% during the 3rd quarter. BB&T Corp now owns 33,856 shares of the company’s stock valued at $1,169,000 after buying an additional 2,389 shares during the period. 84.72% of the stock is currently owned by hedge funds and other institutional investors.
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About Service Co. 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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