Insider Selling: Service Co. International (SCI) Insider Sells 84,679 Shares of Stock
Service Co. International (NYSE:SCI) insider R L. Waltrip sold 84,679 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $37.90, for a total transaction of $3,209,334.10. Following the completion of the sale, the insider now owns 765,762 shares of the company’s stock, valued at approximately $29,022,379.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Service Co. International (SCI) traded up $0.15 during midday trading on Wednesday, hitting $38.00. 1,062,800 shares of the company traded hands, compared to its average volume of 1,058,644. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.70 and a quick ratio of 0.65. Service Co. International has a 12-month low of $26.69 and a 12-month high of $38.10. The firm has a market capitalization of $7,095.75, a PE ratio of 24.74, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96.
Service Co. International (NYSE:SCI) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Service Co. International had a net margin of 11.83% and a return on equity of 24.85%. The firm had revenue of $731.30 million during the quarter, compared to analysts’ expectations of $735.62 million. During the same quarter last year, the business earned $0.26 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. research analysts forecast that Service Co. International will post 1.51 earnings per share for the current fiscal year.
Several analysts recently commented on SCI shares. Zacks Investment Research upgraded shares of Service Co. International from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, August 25th. Oppenheimer reiterated a “buy” rating and issued a $39.00 price objective on shares of Service Co. International in a research note on Tuesday, September 26th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $40.00 price objective (up previously from $38.00) on shares of Service Co. International in a research note on Friday, November 3rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.75.
A number of institutional investors and hedge funds have recently made changes to their positions in SCI. Balyasny Asset Management LLC raised its position in Service Co. International by 271.3% during the second quarter. Balyasny Asset Management LLC now owns 777,768 shares of the company’s stock worth $26,016,000 after acquiring an additional 568,279 shares during the last quarter. Turtle Creek Asset Management Inc. raised its position in Service Co. International by 37.3% during the third quarter. Turtle Creek Asset Management Inc. now owns 1,365,250 shares of the company’s stock worth $47,101,000 after acquiring an additional 371,250 shares during the last quarter. Rothschild Asset Management Inc. raised its position in Service Co. International by 58.5% during the third quarter. Rothschild Asset Management Inc. now owns 834,092 shares of the company’s stock worth $28,776,000 after acquiring an additional 307,915 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in Service Co. International during the third quarter worth about $7,214,000. Finally, Russell Investments Group Ltd. raised its position in Service Co. International by 284.8% during the third quarter. Russell Investments Group Ltd. now owns 257,164 shares of the company’s stock worth $8,872,000 after acquiring an additional 190,334 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.
About Service Co. International
Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.
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