Allspring Global Investments Holdings LLC Sells 8,980 Shares of Service Co. International (NYSE:SCI)

Allspring Global Investments Holdings LLC reduced its stake in shares of Service Co. International (NYSE:SCI - Free Report) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,484 shares of the company's stock after selling 8,980 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Service Co. International worth $11,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Swedbank AB acquired a new position in Service Co. International during the first quarter valued at approximately $224,137,000. Coho Partners Ltd. raised its position in shares of Service Co. International by 10.6% during the first quarter. Coho Partners Ltd. now owns 1,685,111 shares of the company's stock worth $125,052,000 after purchasing an additional 161,570 shares during the period. Norges Bank bought a new position in Service Co. International in the fourth quarter valued at approximately $92,331,000. Charles Schwab Investment Management Inc. lifted its stake in Service Co. International by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 908,456 shares of the company's stock valued at $62,184,000 after buying an additional 9,381 shares in the last quarter. Finally, Premier Fund Managers Ltd boosted its holdings in shares of Service Co. International by 0.7% in the fourth quarter. Premier Fund Managers Ltd now owns 802,004 shares of the company's stock valued at $55,030,000 after buying an additional 5,693 shares during the period. 85.53% of the stock is owned by institutional investors.

Insider Activity at Service Co. International

In related news, Director Tony Coelho sold 2,900 shares of the firm's stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $72.38, for a total transaction of $209,902.00. Following the transaction, the director now directly owns 60,629 shares of the company's stock, valued at $4,388,327.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Thomas L. Ryan sold 80,638 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $73.97, for a total transaction of $5,964,792.86. Following the sale, the chief executive officer now owns 988,365 shares in the company, valued at approximately $73,109,359.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tony Coelho sold 2,900 shares of the business's stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $72.38, for a total transaction of $209,902.00. Following the transaction, the director now owns 60,629 shares of the company's stock, valued at $4,388,327.02. The disclosure for this sale can be found here. Insiders sold 86,180 shares of company stock worth $6,376,570 in the last ninety days. 5.10% of the stock is owned by company insiders.

Service Co. International Stock Performance

NYSE:SCI traded down $0.06 on Friday, hitting $78.27. The company's stock had a trading volume of 1,565,177 shares, compared to its average volume of 915,334. Service Co. International has a one year low of $52.89 and a one year high of $80.37. The firm has a market capitalization of $11.40 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84. The stock has a fifty day moving average of $74.27 and a two-hundred day moving average of $72.57. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 3.05.

Service Co. International (NYSE:SCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.07). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Service Co. International had a net margin of 12.32% and a return on equity of 32.07%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 EPS. Research analysts predict that Service Co. International will post 3.52 earnings per share for the current year.

Service Co. International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, September 13th. Service Co. International's payout ratio is 34.48%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SCI shares. Oppenheimer upped their target price on shares of Service Co. International from $76.00 to $79.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 22nd. UBS Group boosted their price objective on shares of Service Co. International from $83.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday, May 17th. Truist Financial raised their price objective on Service Co. International from $80.00 to $84.00 and gave the company a "buy" rating in a report on Friday, June 21st. Finally, StockNews.com lowered Service Co. International from a "hold" rating to a "sell" rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.60.

Service Co. International Profile

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.