Nordea Investment Management AB trimmed its holdings in shares of Service Co. International (NYSE:SCI - Free Report) by 36.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 923,634 shares of the company's stock after selling 518,448 shares during the period. Nordea Investment Management AB owned 0.64% of Service Co. International worth $74,094,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. FMR LLC increased its stake in shares of Service Co. International by 300.6% in the 3rd quarter. FMR LLC now owns 4,055,823 shares of the company's stock valued at $320,126,000 after acquiring an additional 3,043,354 shares during the last quarter. Select Equity Group L.P. grew its holdings in Service Co. International by 53.5% during the second quarter. Select Equity Group L.P. now owns 7,239,783 shares of the company's stock valued at $514,966,000 after purchasing an additional 2,524,795 shares during the period. Verition Fund Management LLC increased its stake in Service Co. International by 2,527.9% in the third quarter. Verition Fund Management LLC now owns 293,329 shares of the company's stock valued at $23,152,000 after purchasing an additional 282,167 shares in the last quarter. Millennium Management LLC raised its holdings in Service Co. International by 646.5% in the second quarter. Millennium Management LLC now owns 267,860 shares of the company's stock worth $19,053,000 after purchasing an additional 231,980 shares during the period. Finally, Premier Fund Managers Ltd boosted its position in shares of Service Co. International by 23.9% during the third quarter. Premier Fund Managers Ltd now owns 1,093,723 shares of the company's stock worth $85,721,000 after purchasing an additional 210,802 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.
Service Co. International Stock Up 0.6 %
Shares of SCI traded up $0.49 during midday trading on Wednesday, hitting $78.60. The stock had a trading volume of 792,150 shares, compared to its average volume of 1,007,550. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. The company has a 50 day simple moving average of $84.07 and a two-hundred day simple moving average of $78.66. Service Co. International has a twelve month low of $64.10 and a twelve month high of $89.37. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.52 and a quick ratio of 0.48.
Service Co. International (NYSE:SCI - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.79. Service Co. International had a return on equity of 31.84% and a net margin of 12.19%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm earned $0.78 EPS. Service Co. International's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Service Co. International will post 3.51 EPS for the current year.
Service Co. International Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.31 per share. This is a boost from Service Co. International's previous quarterly dividend of $0.30. The ex-dividend date was Friday, December 13th. This represents a $1.24 annualized dividend and a yield of 1.58%. Service Co. International's dividend payout ratio is presently 34.88%.
Analysts Set New Price Targets
A number of analysts recently commented on SCI shares. StockNews.com upgraded shares of Service Co. International from a "sell" rating to a "hold" rating in a research report on Wednesday, December 4th. Truist Financial increased their price target on Service Co. International from $84.00 to $92.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Oppenheimer lifted their price objective on Service Co. International from $86.00 to $92.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Finally, Raymond James boosted their price objective on Service Co. International from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.50.
Read Our Latest Research Report on SCI
Insider Activity at Service Co. International
In other news, VP Elisabeth G. Nash sold 56,100 shares of the company's 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 sale, the vice president now owns 109,260 shares in the company, valued at $9,410,563.80. This represents a 33.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Tony Coelho sold 2,555 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $85.64, for a total transaction of $218,810.20. Following the completion of the transaction, the director now directly owns 53,324 shares of the company's stock, valued at $4,566,667.36. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,655 shares of company stock valued at $9,356,203. Corporate insiders own 5.10% of the company's stock.
Service Co. International Profile
(
Free Report)
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.
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