Service Co. International (NYSE:SCI) VP Gregory T. Sangalis Sells 20,700 Shares of Stock

Service Co. International (NYSE:SCI) VP Gregory T. Sangalis sold 20,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $53.42, for a total transaction of $1,105,794.00. Following the transaction, the vice president now owns 144,999 shares in the company, valued at $7,745,846.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of NYSE SCI opened at $54.18 on Friday. The firm has a 50 day simple moving average of $53.09. Service Co. International has a fifty-two week low of $36.38 and a fifty-two week high of $56.86. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 1.61 and a beta of 0.66. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.46 and a quick ratio of 0.43.

Service Co. International (NYSE:SCI) last announced its quarterly earnings data on Sunday, May 2nd. The company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.33. Service Co. International had a net margin of 17.50% and a return on equity of 37.81%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $955.77 million. During the same period in the prior year, the business posted $0.43 earnings per share. Service Co. International’s revenue was up 34.3% compared to the same quarter last year. Equities research analysts anticipate that Service Co. International will post 2.89 earnings per share for the current fiscal year.

Service Co. International declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 14th. This represents a $0.84 annualized dividend and a yield of 1.55%. Service Co. International’s dividend payout ratio is currently 28.87%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BDO Wealth Advisors LLC acquired a new position in Service Co. International in the fourth quarter valued at approximately $25,000. Allworth Financial LP increased its stake in Service Co. International by 246.3% in the first quarter. Allworth Financial LP now owns 703 shares of the company’s stock valued at $36,000 after purchasing an additional 500 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Service Co. International in the first quarter valued at approximately $43,000. Barrett Asset Management LLC bought a new stake in Service Co. International in the first quarter valued at approximately $74,000. Finally, Marshall Wace LLP bought a new stake in Service Co. International in the first quarter valued at approximately $60,000. Institutional investors and hedge funds own 86.20% of the company’s stock.

Separately, Oppenheimer upped their target price on shares of Service Co. International from $54.00 to $59.00 in a research report on Monday, May 10th.

Service Co. International Company 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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Insider Buying and Selling by Quarter for Service Co. International (NYSE:SCI)

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