First Citizens Bank & Trust Co. Sells 421 Shares of Service Co. International (NYSE:SCI)

First Citizens Bank & Trust Co. decreased its position in shares of Service Co. International (NYSE:SCI) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,942 shares of the company’s stock after selling 421 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Service Co. International were worth $251,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Anchor Capital Advisors LLC raised its holdings in Service Co. International by 3.9% during the 2nd quarter. Anchor Capital Advisors LLC now owns 6,395 shares of the company’s stock worth $249,000 after buying an additional 240 shares during the period. Louisiana State Employees Retirement System increased its holdings in Service Co. International by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 44,500 shares of the company’s stock worth $1,731,000 after buying an additional 300 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Service Co. International by 4.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 8,063 shares of the company’s stock worth $314,000 after buying an additional 316 shares during the last quarter. Red Spruce Capital LLC boosted its position in Service Co. International by 3.4% during the third quarter. Red Spruce Capital LLC now owns 10,054 shares of the company’s stock worth $424,000 after purchasing an additional 330 shares during the period. Finally, Marks Group Wealth Management Inc boosted its position in Service Co. International by 4.2% during the second quarter. Marks Group Wealth Management Inc now owns 11,540 shares of the company’s stock worth $435,000 after purchasing an additional 465 shares during the period. Hedge funds and other institutional investors own 85.46% of the company’s stock.

SCI stock opened at $44.12 on Friday. The company has a market cap of $7.77 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.06 and a beta of 0.76. The business has a 50-day simple moving average of $43.54 and a 200 day simple moving average of $40.76. Service Co. International has a 52 week low of $33.93 and a 52 week high of $52.89. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 2.04.

Service Co. International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.34. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $708.31 million. Service Co. International had a return on equity of 20.42% and a net margin of 12.50%. Service Co. International’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, analysts anticipate that Service Co. International will post 1.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Monday, September 14th. Service Co. International’s dividend payout ratio (DPR) is presently 40.00%.

Service Co. International declared that its Board of Directors has approved a stock buyback program on Wednesday, August 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Service Co. International from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, September 29th. Credit Suisse Group lifted their price objective on shares of Service Co. International from $43.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Oppenheimer assumed coverage on shares of Service Co. International in a research report on Wednesday, August 5th. They set a “buy” rating and a $46.00 price objective for the company. Finally, Raymond James reissued a “buy” rating on shares of Service Co. International in a research report on Thursday, September 17th. Seven investment analysts have rated the stock with a buy rating, Service Co. International presently has an average rating of “Buy” and a consensus target price of $47.71.

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

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