Allspring Global Investments Holdings LLC Buys 19,418 Shares of Service Co. International (NYSE:SCI)

Allspring Global Investments Holdings LLC lifted its holdings in Service Co. International (NYSE:SCI - Free Report) by 12.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,902 shares of the company's stock after purchasing an additional 19,418 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of Service Co. International worth $14,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Swedbank AB acquired a new stake in Service Co. International during the 1st quarter worth about $224,137,000. Select Equity Group L.P. raised its holdings in shares of 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 acquiring an additional 2,524,795 shares during the period. Jennison Associates LLC lifted its position in shares of Service Co. International by 430.3% in the 1st quarter. Jennison Associates LLC now owns 357,075 shares of the company's stock valued at $26,499,000 after acquiring an additional 289,741 shares in the last quarter. Millennium Management LLC raised its stake in Service Co. International by 646.5% during the 2nd quarter. Millennium Management LLC now owns 267,860 shares of the company's stock valued at $19,053,000 after purchasing an additional 231,980 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Service Co. International in the second quarter valued at $14,226,000. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Service Co. International from a "hold" rating to a "sell" rating in a research report on Thursday, August 1st.

Service Co. International Stock Up 0.4 %

Shares of NYSE:SCI traded up $0.28 during trading on Friday, reaching $75.40. 801,841 shares of the company traded hands, compared to its average volume of 898,130. Service Co. International has a 1-year low of $52.89 and a 1-year high of $81.32. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 3.05. The firm has a market cap of $10.98 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.19 and a beta of 0.84. The firm has a fifty day simple moving average of $77.41 and a 200 day simple moving average of $73.84.

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

Service Co. International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. Service Co. International's dividend payout ratio is currently 34.48%.

Insider Activity at Service Co. International

In related news, CEO Thomas L. Ryan sold 80,638 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $73.97, for a total value of $5,964,792.86. Following the completion of the sale, the chief executive officer now directly owns 988,365 shares in the company, valued at approximately $73,109,359.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Ellen Ochoa sold 2,642 shares of the firm's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $76.41, for a total value of $201,875.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas L. Ryan sold 80,638 shares of Service Co. International stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $73.97, for a total value of $5,964,792.86. Following the completion of the transaction, the chief executive officer now owns 988,365 shares in the company, valued at $73,109,359.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.10% of the stock is owned by company insiders.

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.