Hartford Investment Management Co. Invests $229,000 in Service Corporation International (NYSE:SCI)
Hartford Investment Management Co. purchased a new position in shares of Service Corporation International (NYSE:SCI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,850 shares of the company’s stock, valued at approximately $229,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Service Corporation International by 13,931.4% in the first quarter. BlackRock Inc. now owns 16,407,111 shares of the company’s stock worth $506,652,000 after buying an additional 16,290,180 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Service Corporation International by 4.1% in the first quarter. Vanguard Group Inc. now owns 14,875,922 shares of the company’s stock worth $459,368,000 after buying an additional 583,346 shares in the last quarter. State Street Corp increased its position in shares of Service Corporation International by 2.8% in the first quarter. State Street Corp now owns 4,940,752 shares of the company’s stock worth $152,574,000 after buying an additional 136,387 shares in the last quarter. First Manhattan Co. increased its position in shares of Service Corporation International by 17.6% in the first quarter. First Manhattan Co. now owns 4,616,040 shares of the company’s stock worth $122,509,000 after buying an additional 691,037 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Service Corporation International by 0.6% in the first quarter. Clearbridge Investments LLC now owns 3,384,622 shares of the company’s stock worth $104,517,000 after buying an additional 19,578 shares in the last quarter. Institutional investors own 86.25% of the company’s stock.
Shares of Service Corporation International (SCI) traded up 0.40% on Monday, reaching $34.95. The company had a trading volume of 277,556 shares. Service Corporation International has a 52 week low of $24.90 and a 52 week high of $35.50. The stock’s 50 day moving average is $33.45 and its 200 day moving average is $31.58. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 18.94 and a beta of 0.93.
Service Corporation International (NYSE:SCI) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $773.20 million during the quarter, compared to the consensus estimate of $769.57 million. Service Corporation International had a net margin of 11.59% and a return on equity of 24.67%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. On average, equities analysts anticipate that Service Corporation International will post $1.47 EPS for the current year.
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SCI has been the topic of a number of research analyst reports. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $37.00 price target (up previously from $34.00) on shares of Service Corporation International in a report on Friday, July 21st. BidaskClub upgraded Service Corporation International from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Zacks Investment Research upgraded Service Corporation International from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Tuesday, August 1st. Finally, Deutsche Bank AG initiated coverage on Service Corporation International in a report on Monday, May 1st. They set a “buy” rating and a $40.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $37.00.
In other Service Corporation International news, Director Edward E. Williams sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $32.12, for a total value of $321,200.00. Following the completion of the sale, the director now owns 165,372 shares of the company’s stock, valued at $5,311,748.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas L. Ryan sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $31.80, for a total transaction of $3,180,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,175,109 shares of the company’s stock, valued at approximately $37,368,466.20. The disclosure for this sale can be found here. In the last three months, insiders sold 210,000 shares of company stock valued at $6,725,578. 6.20% of the stock is owned by insiders.
About Service Corporation 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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