Service Corp International (NYSE:SCI) board member Tony Coelho has sold a significant amount of the company's stock, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on March 13, 2024, involved the sale of 6,800 shares at a price of $75.4001 per share and 2,150 shares at $75.3401 per share, totaling approximately $674,701.
The sales have adjusted Coelho's direct holdings in the company to 60,887 shares of common stock, excluding additional shares held indirectly through a deferred compensation plan. The reported price range for the sold shares was between $75.3401 and $75.4001, reflecting a narrow price band for the transactions on that day.
Service Corp International, a leading provider of funeral and cemetery services, has seen its stock performance being closely monitored by investors. The sale by a director might be of interest to the market, as insider transactions are often scrutinized for potential insights into a company's financial health and future prospects.
Investors and analysts typically keep an eye on such filings to better understand the actions of company insiders. The stock transactions by Coelho were executed legally and have been fully disclosed in compliance with SEC regulations. The current holdings and the recent sales by Coelho are now a matter of public record for investors to consider as part of their investment research on Service Corp International.
InvestingPro Insights
Following the recent stock sale by Service Corp International (NYSE:SCI) board member Tony Coelho, investors may gain additional insights by considering key metrics and trends provided by InvestingPro. As of the last twelve months ending Q4 2023, SCI's Market Cap stands at a solid 10.58 billion USD, underpinned by a Price/Earnings (P/E) Ratio of 20.0, which aligns with the industry's competitive landscape.
The company's commitment to shareholder returns is evident through its dividend track record. An InvestingPro Tip highlights that SCI has not only maintained its dividend payments for 20 consecutive years but has also raised its dividend for 10 consecutive years, showcasing a reliable income stream for investors. The Dividend Yield as of the latest data point is 1.65%, with a notable Dividend Growth of 11.11% over the last twelve months. This consistent performance may provide reassurance amidst the insider sale activity.
On the operational front, Service Corp International reported a Gross Profit of 1091.81 million USD, with a Gross Profit Margin of 26.63%, reflecting the company's ability to maintain profitability. Additionally, an InvestingPro Tip indicates that analysts predict the company will be profitable this year, which is supported by the fact that SCI has been profitable over the last twelve months. This suggests a stable financial foundation that could potentially counterbalance concerns arising from insider stock sales.
For investors seeking a deeper dive into SCI's financial health and future outlook, there are 11 additional InvestingPro Tips available, providing a comprehensive analysis of the company's performance and market position. Interested readers can explore these insights and benefit from real-time data by using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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