Palisade Capital Management LLC NJ Invests $263,000 in Service Co. International (NYSE:SCI)

Palisade Capital Management LLC NJ bought a new position in shares of Service Co. International (NYSE:SCIGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,002 shares of the company’s stock, valued at approximately $263,000.

A number of other large investors have also modified their holdings of SCI. BlackRock Inc. raised its stake in shares of Service Co. International by 3.8% during the 4th quarter. BlackRock Inc. now owns 16,245,403 shares of the company’s stock worth $1,153,262,000 after buying an additional 591,626 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Service Co. International by 246.1% during the 1st quarter. CIBC Asset Management Inc now owns 764,273 shares of the company’s stock worth $50,305,000 after buying an additional 543,433 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Service Co. International by 190.4% during the 4th quarter. Renaissance Technologies LLC now owns 715,200 shares of the company’s stock worth $50,772,000 after buying an additional 468,900 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Service Co. International by 10,867.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 463,464 shares of the company’s stock valued at $30,505,000 after purchasing an additional 459,238 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Service Co. International by 30.7% in the 4th quarter. Invesco Ltd. now owns 1,285,804 shares of the company’s stock valued at $91,278,000 after purchasing an additional 301,662 shares in the last quarter. 84.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Service Co. International

In other Service Co. International news, VP Gregory T. Sangalis sold 22,800 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $69.29, for a total transaction of $1,579,812.00. Following the sale, the vice president now owns 128,181 shares in the company, valued at approximately $8,881,661.49. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Thomas L. Ryan sold 25,000 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $71.34, for a total transaction of $1,783,500.00. Following the sale, the chief executive officer now owns 968,909 shares in the company, valued at $69,121,968.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory T. Sangalis sold 22,800 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $69.29, for a total value of $1,579,812.00. Following the sale, the vice president now owns 128,181 shares in the company, valued at approximately $8,881,661.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,216 shares of company stock worth $13,088,279. 5.10% of the stock is owned by insiders.

Service Co. International Stock Performance

NYSE SCI opened at $64.70 on Friday. Service Co. International has a 1-year low of $57.27 and a 1-year high of $75.11. The company has a market capitalization of $10.20 billion, a P/E ratio of 13.97, a PEG ratio of 2.13 and a beta of 0.70. The business has a 50 day moving average price of $69.40 and a 200 day moving average price of $66.49. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.51 and a quick ratio of 0.55.

Service Co. International (NYSE:SCIGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.35. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1 billion. Service Co. International had a return on equity of 39.67% and a net margin of 18.38%. Service Co. International’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $1.32 EPS. Sell-side analysts expect that Service Co. International will post 3.52 EPS for the current fiscal year.

Service Co. International announced that its board has initiated a stock repurchase program on Wednesday, May 4th that allows the company to buyback $394.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Service Co. International Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Wednesday, September 14th. Service Co. International’s dividend payout ratio (DPR) is presently 21.60%.

Analyst Ratings Changes

Separately, Oppenheimer raised their price objective on Service Co. International from $64.00 to $74.00 in a research note on Monday, May 9th.

Service Co. International Company Profile

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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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