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HOUSTON, TX – Service Corp International (NYSE:SCI), a leading provider of deathcare products and services, has reported a significant stock transaction involving Sr. V.P. Sales & Marketing, Steven A. Tidwell. According to the latest SEC filings, Tidwell sold a total of 61,700 shares of the company's common stock in multiple transactions dated August 16, 2024.
The transactions included sales at prices ranging from $76.2200 to $76.5900 per share, with the weighted average sale price reported at $76.2919 to $76.5226. The total value of the stock sold by Tidwell amounts to approximately $3,334,414.
In addition to the sales, the executive also acquired 43,700 shares through stock option exercises priced at $42.63, amounting to a total of $1,862,931.
Following these transactions, Steven A. Tidwell's direct ownership in Service Corp International stands at 54,354 shares of common stock, as per the latest filings.
These disclosures provide investors with insight into the stock trading activities of Service Corp International's top executives, which can often be considered a reflection of their confidence in the company's current operations and future prospects.
Service Corp International, headquartered in Houston, Texas, operates under the organization name 07 Trade & Services and is incorporated in the state of Texas. The company, with a fiscal year-end of December 31, is known for its services in the personal services industry, specifically in the realm of funeral and cemetery services.
Investors and market analysts often scrutinize insider transactions as they can provide valuable signals about the company's performance and insider perspectives on the stock's potential.
In other recent news, Service Corporation International (SCI) has declared a quarterly cash dividend of $0.30 per share, scheduled for payment to shareholders on record as of September 13, 2024. The company reported a slight decrease in its adjusted earnings per share (EPS) for Q2 2024, marking $0.79, down from the prior year's figure. This decline was attributed to a 2.7% fall in funeral volumes due to a decrease in excess deaths and the impact of the COVID-19 pandemic. However, these developments were partially offset by increased cemetery profits, with gross profits rising by $5 million. Despite the decline in funeral volumes, SCI reported an increase in adjusted operating cash flow by $62 million from the prior year, reaching $220 million. Looking ahead, SCI expects growth in revenues and margins for both funeral and cemetery segments in the second half of 2024. For 2025, the company projects EPS growth towards the higher end of its historical annual guidance range of 8% to 12%. These recent developments indicate SCI's strategic approach to navigating the challenges within the deathcare industry and its commitment to future growth.
InvestingPro Insights
As Service Corp International (SCI) navigates the market, real-time data and expert analysis can offer a deeper understanding of the company's financial health and potential. An InvestingPro analysis reveals some key metrics and insights that may be of interest to investors following the recent stock transactions by the company's Sr. V.P. Sales & Marketing, Steven A. Tidwell.
InvestingPro Data shows that SCI has a market capitalization of $10.79 billion, reflecting its considerable size within the deathcare industry. The company's Price to Earnings (P/E) ratio stands at 21.61, indicating investors' current valuation of its earnings. Additionally, SCI's Price to Book (P/B) ratio is at 7.01, which is relatively high and suggests that the market values the company's assets significantly above their accounting value.
Looking at the company's performance, SCI has maintained a steady revenue growth with a 2.21% increase over the last twelve months as of Q2 2024. This growth trajectory is further supported by a Gross Profit Margin of 25.95%, showcasing the company's ability to retain a significant portion of sales as profit after accounting for the cost of goods sold.
One of the InvestingPro Tips highlights that SCI has raised its dividend for 10 consecutive years, demonstrating a commitment to returning value to shareholders consistently. This is further reinforced by the fact that the company has maintained dividend payments for 20 consecutive years. Such a track record can be appealing to income-focused investors, particularly in a market environment where reliable income streams are highly valued.
It's also noteworthy that analysts predict the company will be profitable this year, which aligns with the positive revenue and profit margin data. Investors considering SCI's stock should take into account these insights, as they may influence the stock's performance moving forward.
For those seeking a more comprehensive analysis, InvestingPro offers additional insights and metrics on Service Corp International, with a total of 9 InvestingPro Tips available on their platform. These tips provide a broader context for evaluating the company's financial health and market position.
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