Rockefeller Capital Management L.P. grew its position in Service Co. International (NYSE:SCI) by 215.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,373 shares of the company’s stock after buying an additional 7,770 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Service Co. International were worth $609,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in SCI. Maj Invest Holding A S purchased a new position in shares of Service Co. International in the second quarter valued at $90,862,000. Baillie Gifford & Co. increased its position in shares of Service Co. International by 11.0% in the second quarter. Baillie Gifford & Co. now owns 11,820,234 shares of the company’s stock valued at $633,446,000 after buying an additional 1,173,241 shares in the last quarter. Credit Suisse AG increased its position in shares of Service Co. International by 309.9% in the first quarter. Credit Suisse AG now owns 1,132,084 shares of the company’s stock valued at $57,792,000 after buying an additional 855,917 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Service Co. International by 42.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,798,952 shares of the company’s stock valued at $96,406,000 after buying an additional 536,177 shares in the last quarter. Finally, Optimal Asset Management Inc. increased its position in Service Co. International by 180.2% during the 1st quarter. Optimal Asset Management Inc. now owns 730,596 shares of the company’s stock worth $2,950,000 after purchasing an additional 469,900 shares in the last quarter. Institutional investors and hedge funds own 84.17% of the company’s stock.
SCI has been the subject of a number of recent research reports. Raymond James lifted their price objective on Service Co. International from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. Credit Suisse Group lifted their price objective on Service Co. International from $60.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th.
Service Co. International (NYSE:SCI) last issued its quarterly earnings results on Tuesday, July 27th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. Service Co. International had a return on equity of 39.84% and a net margin of 18.08%. The firm had revenue of $987.54 million for the quarter, compared to analyst estimates of $837.10 million. During the same period last year, the company earned $0.58 EPS. As a group, research analysts forecast that Service Co. International will post 3.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.50%. This is a positive change from Service Co. International’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 14th. Service Co. International’s dividend payout ratio (DPR) is presently 31.62%.
In other news, Director Marcus A. Watts sold 18,000 shares of Service Co. International stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $65.13, for a total value of $1,172,340.00. Following the transaction, the director now directly owns 60,134 shares of the company’s stock, valued at approximately $3,916,527.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric D. Tanzberger sold 110,000 shares of Service Co. International stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $63.91, for a total value of $7,030,100.00. Following the completion of the transaction, the chief financial officer now directly owns 161,060 shares in the company, valued at $10,293,344.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 453,103 shares of company stock worth $28,843,010. 5.20% of the stock is owned by corporate insiders.
Service Co. International Company Profile
Service Corp. International engages in the provision of funeral goods and services. It operates through the following segments: Funeral and Cemetery. The Funeral segment offers professional services related to funerals and cremations, including the use of funeral home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, cremations, memorialization and catering.
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