Handelsinvest Investeringsforvaltning Reduces Position in Service Co. International (NYSE:SCI)

Handelsinvest Investeringsforvaltning trimmed its stake in Service Co. International (NYSE:SCIGet Rating) by 1.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 372,955 shares of the company’s stock after selling 7,056 shares during the quarter. Service Co. International comprises 3.4% of Handelsinvest Investeringsforvaltning’s holdings, making the stock its 4th biggest position. Handelsinvest Investeringsforvaltning’s holdings in Service Co. International were worth $21,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venture Visionary Partners LLC bought a new position in shares of Service Co. International during the second quarter valued at $145,000. Washington Trust Advisors Inc. bought a new position in shares of Service Co. International during the third quarter valued at $29,000. Mackenzie Financial Corp lifted its holdings in shares of Service Co. International by 23.6% during the third quarter. Mackenzie Financial Corp now owns 776,739 shares of the company’s stock valued at $44,849,000 after purchasing an additional 148,063 shares in the last quarter. Keybank National Association OH bought a new position in shares of Service Co. International during the second quarter valued at $617,000. Finally, Raymond James Trust N.A. bought a new position in shares of Service Co. International during the second quarter valued at $231,000. 84.68% of the stock is owned by institutional investors.

Service Co. International Stock Down 0.8 %

Service Co. International stock opened at $70.24 on Wednesday. The stock has a market cap of $10.80 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.43 and a current ratio of 0.48. Service Co. International has a one year low of $56.85 and a one year high of $75.11. The stock has a fifty day moving average of $69.94 and a 200 day moving average of $66.57.

Service Co. International (NYSE:SCIGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.17. The company had revenue of $977.72 million during the quarter, compared to analysts’ expectations of $879.87 million. Service Co. International had a return on equity of 36.22% and a net margin of 16.48%. As a group, sell-side analysts predict that Service Co. International will post 3.67 EPS for the current year.

Service Co. International announced that its board has initiated a stock repurchase program on Wednesday, November 2nd that allows the company to buyback $350.00 million in shares. This buyback authorization allows the company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Service Co. International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Wednesday, December 14th. This is a boost from Service Co. International’s previous quarterly dividend of $0.25. Service Co. International’s dividend payout ratio is 25.96%.

Insiders Place Their Bets

In other Service Co. International news, Director Alan R. Buckwalter III sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $71.64, for a total value of $1,432,800.00. Following the completion of the sale, the director now owns 32,326 shares in the company, valued at $2,315,834.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Service Co. International news, Director Alan R. Buckwalter III sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $71.64, for a total value of $1,432,800.00. Following the completion of the sale, the director now owns 32,326 shares in the company, valued at $2,315,834.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Steven A. Tidwell sold 6,705 shares of the company’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $70.28, for a total value of $471,227.40. Following the completion of the sale, the vice president now owns 52,125 shares of the company’s stock, valued at approximately $3,663,345. The disclosure for this sale can be found here. Insiders sold a total of 37,005 shares of company stock worth $2,604,736 over the last quarter. 5.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SCI has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Service Co. International in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Truist Financial began coverage on Service Co. International in a research report on Friday, October 7th. They set a “buy” rating and a $72.00 price objective for the company.

About Service Co. International

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Service Corp. International engages in the provision of funeral goods and services. It operates through the following business segments: Funeral and Cemetery. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization and catering.

Further Reading

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Institutional Ownership by Quarter for Service Co. International (NYSE:SCI)

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