Millennium Management LLC Has $1.39 Million Holdings in Service Co. International (SCI)

Millennium Management LLC lessened its holdings in Service Co. International (NYSE:SCI) by 73.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,743 shares of the company’s stock after selling 109,318 shares during the quarter. Millennium Management LLC’s holdings in Service Co. International were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fort L.P. purchased a new stake in shares of Service Co. International during the 2nd quarter worth approximately $120,000. Hirtle Callaghan & Co LLC purchased a new stake in shares of Service Co. International during the 2nd quarter worth approximately $161,000. Cerebellum GP LLC purchased a new stake in shares of Service Co. International during the 2nd quarter worth approximately $176,000. AMP Capital Investors Ltd purchased a new stake in shares of Service Co. International during the 2nd quarter worth approximately $243,000. Finally, Gideon Capital Advisors Inc. purchased a new stake in shares of Service Co. International during the 2nd quarter worth approximately $258,000. 86.11% of the stock is currently owned by institutional investors.

Shares of Service Co. International stock opened at $41.47 on Thursday. The company has a debt-to-equity ratio of 2.37, a current ratio of 0.56 and a quick ratio of 0.51. Service Co. International has a 1 year low of $33.45 and a 1 year high of $44.53. The company has a market cap of $7.74 billion, a P/E ratio of 26.75, a P/E/G ratio of 1.85 and a beta of 0.96.

Service Co. International (NYSE:SCI) last issued its quarterly earnings data on Monday, October 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Service Co. International had a return on equity of 22.56% and a net margin of 15.76%. The company had revenue of $778.80 million for the quarter, compared to analyst estimates of $762.60 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts forecast that Service Co. International will post 1.85 EPS for the current fiscal year.

In related news, CEO Thomas L. Ryan sold 50,000 shares of Service Co. International stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $40.01, for a total transaction of $2,000,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,035,109 shares in the company, valued at approximately $41,414,711.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric D. Tanzberger sold 110,000 shares of Service Co. International stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $41.18, for a total value of $4,529,800.00. Following the transaction, the chief financial officer now owns 166,817 shares of the company’s stock, valued at $6,869,524.06. The disclosure for this sale can be found here. Insiders have sold a total of 482,150 shares of company stock valued at $19,729,670 over the last 90 days. Insiders own 6.60% of the company’s stock.

Several brokerages have recently commented on SCI. Oppenheimer boosted their price target on Service Co. International from $42.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, October 26th. Raymond James boosted their price target on Service Co. International from $45.00 to $47.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Credit Suisse Group boosted their price target on Service Co. International from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Zacks Investment Research raised Service Co. International from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday, August 2nd. Finally, ValuEngine raised Service Co. International from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $46.17.

Service Co. International Profile

Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.

Further Reading: Dividend

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

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