Thomas L. Ryan, CEO and Chairman of Service Corp International (NYSE:SCI), has sold 50,000 shares of the company's common stock, according to a recent SEC filing. The shares were sold at an average price of $86.1122, generating approximately $4.3 million in proceeds for Ryan.
In addition to the sale, Ryan exercised options to acquire 50,000 shares at a price of $37.53 per share. Following these transactions, Ryan holds 982,333 shares directly, along with indirect holdings through trusts and a deferred compensation plan.
These transactions were part of a series of moves reported on November 21, 2024, reflecting Ryan's ongoing management of his equity stake in the company.
In other recent news, Service Corporation International (NYSE:SCI) announced the extension of key executives' contracts until the end of 2025, ensuring leadership continuity. The executives include Thomas L. Ryan, Eric D. Tanzberger, Sumner J. Waring, III, and Elisabeth G. Nash.
In financial developments, the company reported a slight increase in its third-quarter 2024 adjusted earnings per share (EPS), rising to $0.79 from $0.78 in the previous year. This was accompanied by a substantial $123 million investment in acquisitions and $31 million in real estate for future expansion. Moreover, the company's operating cash flow saw an 18% year-over-year increase.
Additionally, Service Corporation International completed significant acquisitions and real estate investments in strategic locations during the third quarter. The company also issued an $800 million note at 5.75% to refinance debt and maintain liquidity at $1.5 billion.
Looking ahead, analysts anticipate an 8% to 12% annual EPS growth in 2025, with a projected stable capital expenditure for maintenance. These recent developments reflect the company's strategic focus on growth and stability.
InvestingPro Insights
Service Corporation International (NYSE:SCI) has been showing strong market performance, with the stock trading near its 52-week high and demonstrating a robust 43.48% total return over the past year. This aligns with CEO Thomas L. Ryan's recent stock transactions, potentially indicating confidence in the company's current valuation.
InvestingPro data reveals that SCI's market capitalization stands at $12.62 billion, with a P/E ratio of 25.14. This relatively high P/E ratio, coupled with an InvestingPro Tip noting that SCI is "Trading at a high P/E ratio relative to near-term earnings growth," suggests that investors are pricing in expectations for future growth.
Another InvestingPro Tip highlights that SCI "Has raised its dividend for 11 consecutive years," which may be attractive to income-focused investors. The company's current dividend yield is 1.39%, with a 3.45% dividend growth rate over the last twelve months.
It's worth noting that InvestingPro offers 13 additional tips for SCI, providing a more comprehensive analysis for investors seeking deeper insights into the company's financial health and market position.
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