Service Co. International (NYSE:SCI) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Service Co. International (NYSE:SCI - Free Report) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 766,741 shares of the company's stock after selling 78,622 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.53% of Service Co. International worth $61,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its stake in Service Co. International by 300.6% in the 3rd quarter. FMR LLC now owns 4,055,823 shares of the company's stock worth $320,126,000 after acquiring an additional 3,043,354 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Service Co. International by 5.1% in the third quarter. Geode Capital Management LLC now owns 3,211,902 shares of the company's stock worth $253,567,000 after purchasing an additional 156,086 shares during the last quarter. Swedbank AB lifted its holdings in shares of Service Co. International by 1.7% during the fourth quarter. Swedbank AB now owns 2,950,020 shares of the company's stock worth $235,471,000 after purchasing an additional 50,000 shares during the period. Bank of New York Mellon Corp boosted its position in Service Co. International by 8.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,459,377 shares of the company's stock valued at $116,487,000 after buying an additional 118,832 shares during the last quarter. Finally, Empower Advisory Group LLC increased its holdings in Service Co. International by 1.5% in the 4th quarter. Empower Advisory Group LLC now owns 959,823 shares of the company's stock worth $76,613,000 after buying an additional 13,764 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

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

Analysts Set New Price Targets

SCI has been the subject of a number of recent research reports. Oppenheimer raised their price target 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. StockNews.com cut shares of 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 MarketBeat, Service Co. International presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.50.

Service Co. International Stock Performance

NYSE:SCI traded down $0.40 during trading hours on Friday, reaching $79.81. The company had a trading volume of 1,039,907 shares, compared to its average volume of 984,416. 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 1-year low of $67.19 and a 1-year high of $89.37. The business's 50 day moving average price is $78.91 and its 200-day moving average price is $80.21. The firm has a market cap of $11.51 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.90 and a beta of 0.90.

Service Co. International (NYSE:SCI - Get Free Report) last posted its earnings results 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 net margin of 12.39% and a return on equity of 32.18%. Research analysts forecast that Service Co. International will post 3.84 EPS for the current year.

Service Co. International Increases Dividend

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