HOUSTON—Jakki L. Haussler, a director at Service Corp International (NYSE:SCI), recently sold a significant portion of her common stock holdings in the company. According to a filing with the Securities and Exchange Commission, Haussler sold 5,326 shares of Service Corp International stock on November 1, 2024. The shares were sold at a weighted average price of $82.4698, generating approximately $439,234 in total proceeds.
Following the transaction, Haussler holds 4,937 shares directly. Additionally, she retains 3,320 shares indirectly through a deferred compensation plan. The sales were executed in multiple transactions at prices ranging from $82.4501 to $82.58 per share.
In other recent news, Service Corporation International (NYSE:SCI) reported a slight increase in its adjusted earnings per share (EPS) for the third quarter, rising to $0.79 from $0.78 in the prior year. The company highlighted substantial investments in acquisitions and real estate, with $123 million spent on acquisitions and $31 million invested in real estate for future expansion. Adjusted operating cash flow also saw growth, increasing by 18% year-over-year.
In other developments, the company issued an $800 million note at 5.75% to refinance debt and maintain liquidity at $1.5 billion. SCI expects fourth-quarter adjusted EPS of $1 to $1.10 and projects 8% to 12% annual EPS growth in 2025. However, the company anticipates increased cash tax payments in 2025.
Despite a 1% decline in core funeral volume and minor financial headwinds caused by market shutdowns in Western Florida due to hurricanes, SCI remains optimistic about future volume trends and acquisition opportunities. The company also expects to see increased profitability with SCI Direct, despite licensing issues. These are among the recent developments for SCI.
InvestingPro Insights
Service Corporation International (NYSE:SCI) has demonstrated strong financial performance and market positioning, as reflected in recent InvestingPro data. The company's market capitalization stands at $12.11 billion, indicating its significant presence in the death care services industry. SCI's P/E ratio of 24.05 suggests that investors are willing to pay a premium for the company's earnings, possibly due to its consistent performance and growth prospects.
InvestingPro Tips highlight that SCI has maintained dividend payments for 20 consecutive years and has raised its dividend for 10 consecutive years. This track record of consistent dividend growth may be particularly appealing to income-focused investors, especially considering the company's current dividend yield of 1.46%.
The company's financial strength is further underscored by its revenue of $4.15 billion over the last twelve months, with a gross profit margin of 25.84% and an operating income margin of 21.73%. These figures suggest that SCI maintains a healthy profitability profile in its operations.
It's worth noting that SCI is trading near its 52-week high, with a strong return of 41.33% over the past year. This performance aligns with the InvestingPro Tip indicating a strong return over the last three months and five years, suggesting sustained investor confidence in the company's business model and growth trajectory.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for SCI, providing deeper insights into the company's financial health and market position.
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