Short Interest in Service Co. International (NYSE:SCI) Declines By 26.8%

Service Co. International (NYSE:SCI) saw a significant decrease in short interest in June. As of June 30th, there was short interest totalling 8,476,100 shares, a decrease of 26.8% from the May 30th total of 11,574,200 shares. Approximately 4.9% of the company’s shares are short sold. Based on an average trading volume of 941,300 shares, the short-interest ratio is presently 9.0 days.

Several brokerages have recently weighed in on SCI. Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. ValuEngine downgraded shares of Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.75.

Shares of SCI stock traded up $0.40 on Friday, hitting $47.54. The stock had a trading volume of 12,496 shares, compared to its average volume of 731,305. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The business has a 50 day simple moving average of $45.51. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.48 and a quick ratio of 0.44. Service Co. International has a 52-week low of $36.88 and a 52-week high of $47.46.

Service Co. International (NYSE:SCI) last announced its earnings results on Wednesday, April 24th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $798.20 million during the quarter, compared to the consensus estimate of $791.85 million. Service Co. International had a net margin of 13.92% and a return on equity of 21.13%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Sell-side analysts expect that Service Co. International will post 1.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.51%. Service Co. International’s dividend payout ratio (DPR) is 40.22%.

In other news, VP Gregory T. Sangalis sold 14,107 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $44.00, for a total value of $620,708.00. Following the completion of the sale, the vice president now owns 169,383 shares of the company’s stock, valued at $7,452,852. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 100,000 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $43.83, for a total transaction of $4,383,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,122,809 shares of the company’s stock, valued at approximately $49,212,718.47. The disclosure for this sale can be found here. Insiders sold 409,287 shares of company stock valued at $17,844,533 in the last three months. Company insiders own 5.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in Service Co. International by 47.0% during the 4th quarter. Baillie Gifford & Co. now owns 11,940,093 shares of the company’s stock valued at $480,708,000 after acquiring an additional 3,819,041 shares during the last quarter. First Manhattan Co. boosted its stake in Service Co. International by 11.3% during the 1st quarter. First Manhattan Co. now owns 4,559,451 shares of the company’s stock valued at $183,062,000 after acquiring an additional 464,406 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Service Co. International by 7.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 3,126,725 shares of the company’s stock valued at $146,268,000 after acquiring an additional 204,177 shares during the last quarter. FIL Ltd boosted its stake in Service Co. International by 0.3% during the 1st quarter. FIL Ltd now owns 3,042,436 shares of the company’s stock valued at $122,153,000 after acquiring an additional 8,197 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Service Co. International by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 1,728,263 shares of the company’s stock valued at $69,579,000 after acquiring an additional 138,359 shares during the last quarter. Hedge funds and other institutional investors own 86.82% of the company’s stock.

About Service Co. International

Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.

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