Service Co. International (SCI) Shares Bought by PEAK6 Investments L.P.
PEAK6 Investments L.P. increased its stake in Service Co. International (NYSE:SCI) by 100.8% in the 4th quarter, Holdings Channel reports. The firm owned 68,418 shares of the company’s stock after acquiring an additional 34,340 shares during the period. PEAK6 Investments L.P.’s holdings in Service Co. International were worth $2,553,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Candriam Luxembourg S.C.A. raised its position in Service Co. International by 16.9% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 374,245 shares of the company’s stock worth $13,979,000 after purchasing an additional 54,055 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Service Co. International in the 3rd quarter worth approximately $4,806,000. Bank of Montreal Can raised its position in Service Co. International by 170.4% in the 4th quarter. Bank of Montreal Can now owns 28,224 shares of the company’s stock worth $1,053,000 after purchasing an additional 17,787 shares during the last quarter. Russell Investments Group Ltd. raised its position in Service Co. International by 284.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 257,164 shares of the company’s stock worth $8,872,000 after purchasing an additional 190,334 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its position in Service Co. International by 118,665.1% in the 4th quarter. Contravisory Investment Management Inc. now owns 98,575 shares of the company’s stock worth $3,679,000 after purchasing an additional 98,492 shares during the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.
Several analysts have commented on the stock. Credit Suisse Group upped their target price on shares of Service Co. International from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Deutsche Bank upped their target price on shares of Service Co. International from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Bank of America upped their target price on shares of Service Co. International from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Off Wall Street assumed coverage on shares of Service Co. International in a research report on Friday, December 15th. They set a “sell” rating for the company. Finally, Oppenheimer reiterated a “buy” rating and set a $42.00 target price on shares of Service Co. International in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Service Co. International currently has a consensus rating of “Buy” and an average price target of $43.60.
Service Co. International (NYSE:SCI) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.05. Service Co. International had a net margin of 17.66% and a return on equity of 23.68%. The business had revenue of $812.73 million during the quarter, compared to analysts’ expectations of $823.66 million. During the same quarter in the prior year, the company earned $0.47 EPS. research analysts expect that Service Co. International will post 1.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Service Co. International’s previous quarterly dividend of $0.15. Service Co. International’s dividend payout ratio is currently 21.05%.
Service Co. International declared that its Board of Directors has authorized a share buyback program on Tuesday, February 13th that authorizes the company to repurchase $298.00 million in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, Director Tony Coelho sold 3,110 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $39.11, for a total value of $121,632.10. Following the completion of the transaction, the director now directly owns 63,240 shares of the company’s stock, valued at approximately $2,473,316.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.20% of the stock is currently owned by corporate insiders.
WARNING: This piece was first published by Daily Political and is the property of of Daily Political. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.dailypolitical.com/2018/03/14/service-co-international-sci-shares-bought-by-peak6-investments-l-p.html.
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.
Want to see what other hedge funds are holding SCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Service Co. International (NYSE:SCI).
Receive News & Ratings for Service Co. International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Service Co. International and related companies with MarketBeat.com's FREE daily email newsletter.