Contravisory Investment Management Inc. Purchases 98,492 Shares of Service Co. International (SCI)
Contravisory Investment Management Inc. boosted its position in shares of Service Co. International (NYSE:SCI) by 118,665.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,575 shares of the company’s stock after purchasing an additional 98,492 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Service Co. International were worth $3,679,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in SCI. Riverhead Capital Management LLC raised its holdings in Service Co. International by 59.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 15,118 shares of the company’s stock worth $506,000 after purchasing an additional 5,618 shares during the last quarter. Teachers Advisors LLC raised its holdings in Service Co. International by 3.7% during the 2nd quarter. Teachers Advisors LLC now owns 227,014 shares of the company’s stock worth $7,594,000 after purchasing an additional 8,179 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Service Co. International by 2.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,467,669 shares of the company’s stock worth $49,092,000 after purchasing an additional 36,642 shares during the last quarter. Amalgamated Bank increased its stake in shares of Service Co. International by 22.4% in the 2nd quarter. Amalgamated Bank now owns 36,990 shares of the company’s stock valued at $1,237,000 after acquiring an additional 6,767 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in shares of Service Co. International by 7.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 37,990 shares of the company’s stock valued at $1,271,000 after acquiring an additional 2,630 shares during the last quarter. 84.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Service Co. International (SCI) traded down $0.13 during mid-day trading on Thursday, hitting $38.55. The stock had a trading volume of 1,055,677 shares, compared to its average volume of 1,115,242. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 2.66. The company has a market cap of $7,230.00, a PE ratio of 20.29, a PEG ratio of 2.11 and a beta of 0.96. Service Co. International has a one year low of $28.67 and a one year high of $39.06.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Wednesday, November 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. Service Co. International’s dividend payout ratio (DPR) is presently 31.58%.
In related news, insider R L. Waltrip sold 84,679 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $37.90, for a total value of $3,209,334.10. Following the completion of the transaction, the insider now directly owns 765,762 shares in the company, valued at approximately $29,022,379.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Elisabeth G. Nash sold 47,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $35.64, for a total value of $1,675,080.00. Following the completion of the transaction, the vice president now owns 164,441 shares of the company’s stock, valued at $5,860,677.24. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
A number of brokerages have recently commented on SCI. Oppenheimer reaffirmed a “buy” rating and issued a $42.00 price target on shares of Service Co. International in a research note on Thursday. Zacks Investment Research raised Service Co. International from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Thursday, September 21st. Off Wall Street began coverage on Service Co. International in a research note on Friday, December 15th. They issued a “sell” rating for the company. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $40.00 price target (up from $38.00) on shares of Service Co. International in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $40.50.
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.
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