Handelsbanken Fonder AB Sells 114,400 Shares of Service Co. International (NYSE:SCI)

Handelsbanken Fonder AB lessened its holdings in Service Co. International (NYSE:SCI - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,695,748 shares of the company's stock after selling 114,400 shares during the quarter. Handelsbanken Fonder AB owned 1.17% of Service Co. International worth $135,355,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. M&T Bank Corp boosted its position in shares of Service Co. International by 1.1% in the third quarter. M&T Bank Corp now owns 11,248 shares of the company's stock valued at $888,000 after acquiring an additional 123 shares during the period. CIBC Asset Management Inc lifted its position in Service Co. International by 2.7% during the fourth quarter. CIBC Asset Management Inc now owns 5,167 shares of the company's stock worth $412,000 after purchasing an additional 138 shares during the period. Moloney Securities Asset Management LLC lifted its position in Service Co. International by 1.4% during the third quarter. Moloney Securities Asset Management LLC now owns 13,582 shares of the company's stock worth $1,072,000 after purchasing an additional 182 shares during the period. Stanley Laman Group Ltd. lifted its position in Service Co. International by 0.5% during the fourth quarter. Stanley Laman Group Ltd. now owns 40,098 shares of the company's stock worth $3,201,000 after purchasing an additional 214 shares during the period. Finally, QRG Capital Management Inc. lifted its position in Service Co. International by 4.2% during the third quarter. QRG Capital Management Inc. now owns 5,396 shares of the company's stock worth $426,000 after purchasing an additional 217 shares during the period. Institutional investors own 85.53% of the company's stock.

Service Co. International Price Performance

NYSE SCI traded up $0.32 during trading on Friday, hitting $78.97. 1,274,148 shares of the company's stock were exchanged, compared to its average volume of 1,233,284. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 2.83. The company has a market cap of $11.39 billion, a PE ratio of 22.25, a P/E/G ratio of 1.91 and a beta of 0.87. Service Co. International has a fifty-two week low of $67.19 and a fifty-two week high of $89.37. The stock's 50 day moving average price is $78.80 and its two-hundred day moving average price is $79.64.

Service Co. International (NYSE:SCI - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. Service Co. International had a return on equity of 32.18% and a net margin of 12.39%. Research analysts expect that Service Co. International will post 3.84 EPS for the current year.

Service Co. International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.62%. This is an increase from Service Co. International's previous quarterly dividend of $0.31. Service Co. International's dividend payout ratio is currently 33.80%.

Analyst Upgrades and Downgrades

SCI has been the subject of several recent analyst reports. Oppenheimer upped their price objective on shares of Service Co. International from $86.00 to $92.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Raymond James upped their price objective on shares of Service Co. International from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Truist Financial upped their price objective on shares of Service Co. International from $84.00 to $92.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, StockNews.com raised shares of Service Co. International from a "sell" rating to a "hold" rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Service Co. International presently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Service Co. International Company Profile

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.