Neuberger Berman Group LLC Cuts Stake in Service Corp. International (SCI)
Neuberger Berman Group LLC cut its stake in shares of Service Corp. International (NYSE:SCI) by 10.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,421,833 shares of the company’s stock after selling 295,125 shares during the period. Neuberger Berman Group LLC’s holdings in Service Corp. International were worth $64,275,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of SCI. Fuller & Thaler Asset Management Inc. acquired a new stake in Service Corp. International during the second quarter valued at approximately $124,000. Wedbush Securities Inc. acquired a new stake in Service Corp. International during the second quarter valued at approximately $202,000. Nomura Holdings Inc. acquired a new stake in Service Corp. International during the second quarter valued at approximately $205,000. Wright Investors Service Inc. acquired a new stake in Service Corp. International during the second quarter valued at approximately $233,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Service Corp. International during the second quarter valued at approximately $275,000. Institutional investors own 83.47% of the company’s stock.
Shares of Service Corp. International (NYSE:SCI) opened at 26.95 on Wednesday. The stock’s 50 day moving average price is $26.11 and its 200-day moving average price is $26.76. Service Corp. International has a one year low of $20.21 and a one year high of $28.81. The stock has a market cap of $5.13 billion, a PE ratio of 29.10 and a beta of 0.83.
Service Corp. International (NYSE:SCI) last announced its earnings results on Wednesday, October 26th. The company reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Service Corp. International had a return on equity of 20.38% and a net margin of 6.12%. The business earned $721.50 million during the quarter, compared to analysts’ expectations of $740.69 million. During the same quarter last year, the business posted $0.23 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts predict that Service Corp. International will post $1.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Tuesday, December 13th. Service Corp. International’s dividend payout ratio is 56.52%.
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SCI has been the subject of several recent analyst reports. Bank of America Corp. initiated coverage on Service Corp. International in a report on Friday, September 30th. They issued a “buy” rating and a $32.00 price target for the company. Zacks Investment Research upgraded Service Corp. International from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Co. began coverage on Service Corp. International in a report on Tuesday, August 2nd. They issued a “market perform” rating for the company.
In other news, insider Michael R. Webb sold 93,300 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $26.03, for a total transaction of $2,428,599.00. Following the completion of the sale, the insider now directly owns 514,203 shares of the company’s stock, valued at $13,384,704.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director W Blair Waltrip sold 4,800 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $25.28, for a total value of $121,344.00. Following the sale, the director now directly owns 701,409 shares of the company’s stock, valued at $17,731,619.52. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.
About Service Corp. 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 are funeral and cemetery operations. The Company conducts both funeral and cemetery operations in the United States and Canada. It operates over 1,535 funeral service locations and over 470 cemeteries, which are diversified across over 45 states, over eight Canadian provinces, the District of Columbia, and Puerto Rico.
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