Intech Investment Management LLC Cuts Stock Position in Service Co. International (NYSE:SCI)

Intech Investment Management LLC cut its stake in Service Co. International (NYSE:SCI - Free Report) by 31.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,861 shares of the company's stock after selling 22,963 shares during the quarter. Intech Investment Management LLC's holdings in Service Co. International were worth $3,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. nVerses Capital LLC boosted its holdings in shares of Service Co. International by 100.0% in the second quarter. nVerses Capital LLC now owns 400 shares of the company's stock worth $28,000 after buying an additional 200 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Service Co. International by 121.9% in the second quarter. Blue Trust Inc. now owns 708 shares of the company's stock worth $53,000 after buying an additional 389 shares during the last quarter. Quarry LP boosted its holdings in shares of Service Co. International by 258.6% in the second quarter. Quarry LP now owns 789 shares of the company's stock worth $56,000 after buying an additional 569 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in shares of Service Co. International in the third quarter worth approximately $57,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Service Co. International in the first quarter worth approximately $65,000. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Thomas L. Ryan sold 50,000 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $86.11, for a total value of $4,305,500.00. Following the sale, the chief executive officer now directly owns 982,333 shares in the company, valued at approximately $84,588,694.63. This trade represents a 4.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Elisabeth G. Nash sold 56,100 shares of Service Co. International stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $86.13, for a total transaction of $4,831,893.00. Following the completion of the sale, the vice president now owns 109,260 shares of the company's stock, valued at $9,410,563.80. This trade represents a 33.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,655 shares of company stock worth $9,356,203. Insiders own 5.10% of the company's stock.

Service Co. International Price Performance

Shares of SCI stock traded up $1.11 during mid-day trading on Friday, hitting $87.24. The company had a trading volume of 721,204 shares, compared to its average volume of 1,027,566. Service Co. International has a 52-week low of $60.60 and a 52-week high of $88.32. The stock's 50 day moving average price is $79.73 and its 200-day moving average price is $75.72. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.52 and a quick ratio of 0.48. The company has a market capitalization of $12.62 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.52 and a beta of 0.83.

Service Co. International (NYSE:SCI - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Service Co. International had a net margin of 12.19% and a return on equity of 31.84%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The company's quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Service Co. International will post 3.51 earnings per share for the current year.

Service Co. International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, December 13th. This is a boost from Service Co. International's previous quarterly dividend of $0.30. Service Co. International's payout ratio is currently 34.88%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SCI shares. Truist Financial raised their price objective on shares of Service Co. International from $84.00 to $92.00 and gave the stock a "buy" rating in a report on Friday, November 1st. StockNews.com downgraded shares of Service Co. International from a "hold" rating to a "sell" rating in a report on Friday, November 8th. Finally, Raymond James lifted their price target on shares of Service Co. International from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $85.25.

About Service Co. International

Service Corporation International provides deathcare products and services in the United States and Canada. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses. The company also provides professional services related to funerals and cremations, including the use of funeral home facilities and motor vehicles; arranging and directing services; and removal, preparation, embalming, cremation, memorialization, and travel protection, as well as catering services.