GW&K Investment Management LLC Lowers Position in Service Corporation International $SCI

GW&K Investment Management LLC trimmed its stake in shares of Service Corporation International (NYSE:SCI) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 436,094 shares of the company’s stock after selling 6,161 shares during the period. GW&K Investment Management LLC owned 0.31% of Service Corporation International worth $36,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SCI. Steigerwald Gordon & Koch Inc. bought a new position in shares of Service Corporation International during the 3rd quarter valued at about $33,000. Quent Capital LLC bought a new stake in shares of Service Corporation International in the third quarter worth about $34,000. Root Financial Partners LLC purchased a new stake in shares of Service Corporation International in the third quarter worth about $34,000. Sentry Investment Management LLC bought a new position in Service Corporation International during the third quarter valued at approximately $46,000. Finally, Valeo Financial Advisors LLC purchased a new position in Service Corporation International during the 2nd quarter valued at approximately $203,000. 85.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on SCI shares. Wall Street Zen cut Service Corporation International from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Weiss Ratings raised shares of Service Corporation International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. Finally, JPMorgan Chase & Co. began coverage on shares of Service Corporation International in a research report on Tuesday, January 20th. They set an “overweight” rating and a $110.00 price objective for the company. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $96.50.

Insider Buying and Selling

In related news, CAO Tammy R. Moore sold 5,000 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $80.48, for a total value of $402,400.00. Following the sale, the chief accounting officer directly owned 21,654 shares of the company’s stock, valued at $1,742,713.92. This represents a 18.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.

Service Corporation International Stock Performance

NYSE SCI opened at $81.78 on Friday. The business’s 50 day moving average price is $81.00 and its 200-day moving average price is $80.42. Service Corporation International has a fifty-two week low of $71.75 and a fifty-two week high of $86.67. The company has a market cap of $11.39 billion, a P/E ratio of 21.52, a P/E/G ratio of 1.81 and a beta of 1.00. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.50 and a current ratio of 0.55.

Service Corporation International (NYSE:SCI) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.14. Service Corporation International had a return on equity of 34.21% and a net margin of 12.59%.The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $1.06 earnings per share. Service Corporation International’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts predict that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Service Corporation International’s previous quarterly dividend of $0.32. Service Corporation International’s dividend payout ratio is presently 35.79%.

Service Corporation International Company Profile

Service Corporation International (NYSE: SCI) is a leading provider of funeral, cremation and cemetery services in North America. Through its network of funeral homes, cemeteries, memorial parks and crematoria, the company offers a broad array of end-of-life services, including traditional funeral ceremonies, memorialization, burial and cremation. In addition to core services, SCI provides grief counseling, pre-need planning and merchandise such as caskets, vaults, urns and memorialization products.

Headquartered in Houston, Texas, Service Corporation International operates more than 1,900 funeral homes, over 450 cemeteries and 40 combination facilities across the United States and Canada.