Parametric Portfolio Associates LLC grew its holdings in shares of Service Co. International (NYSE:SCI) by 11.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 378,115 shares of the company’s stock after acquiring an additional 38,591 shares during the period. Parametric Portfolio Associates LLC owned about 0.21% of Service Co. International worth $17,688,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new position in shares of Service Co. International during the second quarter valued at $29,000. Lee Financial Co bought a new position in Service Co. International during the second quarter worth $33,000. Advisory Services Network LLC raised its stake in Service Co. International by 119.1% during the second quarter. Advisory Services Network LLC now owns 883 shares of the company’s stock worth $41,000 after buying an additional 480 shares during the last quarter. Penserra Capital Management LLC bought a new position in Service Co. International during the first quarter worth $38,000. Finally, Vigilant Capital Management LLC bought a new position in Service Co. International during the second quarter worth $44,000. 88.02% of the stock is owned by hedge funds and other institutional investors.
NYSE SCI traded down $0.04 during mid-day trading on Friday, reaching $47.06. 268,188 shares of the stock were exchanged, compared to its average volume of 667,918. Service Co. International has a one year low of $37.52 and a one year high of $48.69. The stock has a 50 day simple moving average of $46.79 and a 200-day simple moving average of $44.22. The stock has a market cap of $8.67 billion, a P/E ratio of 26.29, a P/E/G ratio of 2.18 and a beta of 0.91. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.64 and a quick ratio of 0.60.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, September 12th. Service Co. International’s dividend payout ratio is presently 40.22%.
Service Co. International announced that its board has approved a share repurchase program on Wednesday, August 14th that authorizes the company to repurchase $246.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
Separately, Raymond James lifted their target price on shares of Service Co. International from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st.
In other Service Co. International news, insider Tammy R. Moore sold 7,900 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $46.89, for a total value of $370,431.00. Following the completion of the sale, the insider now directly owns 32,763 shares in the company, valued at $1,536,257.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tammy R. Moore sold 51,600 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $46.83, for a total transaction of $2,416,428.00. Following the completion of the sale, the insider now owns 62,163 shares of the company’s stock, valued at $2,911,093.29. The disclosure for this sale can be found here. Insiders have sold 575,633 shares of company stock valued at $27,215,196 in the last three months. 5.50% of the stock is owned by insiders.
Service Co. International Profile
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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