KLP Kapitalforvaltning AS Takes $2.79 Million Position in Service Co. International (NYSE:SCI)

KLP Kapitalforvaltning AS acquired a new stake in shares of Service Co. International (NYSE:SCI - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 34,900 shares of the company's stock, valued at approximately $2,786,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SCI. Sei Investments Co. increased its holdings in Service Co. International by 2.8% during the fourth quarter. Sei Investments Co. now owns 122,767 shares of the company's stock worth $9,800,000 after buying an additional 3,359 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Service Co. International by 2.1% in the 4th quarter. American Century Companies Inc. now owns 34,464 shares of the company's stock worth $2,751,000 after purchasing an additional 694 shares during the period. Xponance Inc. lifted its stake in Service Co. International by 4.6% in the fourth quarter. Xponance Inc. now owns 17,808 shares of the company's stock valued at $1,421,000 after purchasing an additional 791 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Service Co. International by 13.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 77,279 shares of the company's stock valued at $6,168,000 after purchasing an additional 8,915 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Service Co. International by 1.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,081 shares of the company's stock valued at $1,204,000 after acquiring an additional 245 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several research analysts recently commented on SCI shares. Oppenheimer raised their price objective on shares of Service Co. International from $86.00 to $92.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. StockNews.com cut Service Co. International from a "hold" rating to a "sell" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Service Co. International presently has an average rating of "Moderate Buy" and a consensus target price of $88.50.

Insider Activity

In other news, Director Tony Coelho sold 6,500 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $79.29, for a total value of $515,385.00. Following the completion of the transaction, the director now directly owns 46,824 shares in the company, valued at approximately $3,712,674.96. This represents a 12.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas L. Ryan sold 50,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $84.56, for a total value of $4,228,000.00. Following the transaction, the chief executive officer now directly owns 982,333 shares in the company, valued at approximately $83,066,078.48. This represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company's stock.

Service Co. International Price Performance

NYSE:SCI traded down $0.40 during trading hours on Friday, hitting $79.81. The stock had a trading volume of 1,039,907 shares, compared to its average volume of 984,416. The company has a 50 day simple moving average of $78.91 and a two-hundred day simple moving average of $80.22. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 1.90 and a beta of 0.90. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.52 and a quick ratio of 0.48. Service Co. International has a one year low of $67.19 and a one year high of $89.37.

Service Co. International (NYSE:SCI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting 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 forecast that Service Co. International will post 3.84 earnings per share for the current fiscal year.

Service Co. International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, March 14th. This is a boost from Service Co. International's previous quarterly dividend of $0.31. Service Co. International's payout ratio is currently 36.06%.

Service Co. International 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.