PNC Financial Services Group Inc. lessened its holdings in Service Co. International (NYSE:SCI - Free Report) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 341,925 shares of the company's stock after selling 20,691 shares during the period. PNC Financial Services Group Inc. owned 0.24% of Service Co. International worth $26,988,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Select Equity Group L.P. boosted its holdings in shares of Service Co. International by 53.5% during the 2nd quarter. Select Equity Group L.P. now owns 7,239,783 shares of the company's stock worth $514,966,000 after buying an additional 2,524,795 shares during the period. Swedbank AB bought a new position in shares of Service Co. International during the first quarter worth approximately $224,137,000. Dimensional Fund Advisors LP lifted its holdings in Service Co. International by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,942,559 shares of the company's stock worth $138,183,000 after purchasing an additional 135,017 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Service Co. International by 3.5% in the third quarter. Handelsbanken Fonder AB now owns 1,810,148 shares of the company's stock valued at $142,875,000 after acquiring an additional 61,838 shares during the period. Finally, Empower Advisory Group LLC grew its stake in shares of Service Co. International by 2.8% in the third quarter. Empower Advisory Group LLC now owns 946,059 shares of the company's stock valued at $74,672,000 after acquiring an additional 25,713 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.
Service Co. International Price Performance
Shares of SCI traded up $1.11 during midday trading on Friday, hitting $87.24. The company's stock had a trading volume of 721,154 shares, compared to its average volume of 909,174. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 2.91. Service Co. International has a one year low of $60.60 and a one year high of $88.32. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The company's fifty day simple moving average is $79.59 and its two-hundred day simple moving average is $75.59.
Service Co. International (NYSE:SCI - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, hitting analysts' consensus estimates of $0.79. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. Service Co. International had a net margin of 12.19% and a return on equity of 31.84%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. As a group, equities analysts expect that Service Co. International will post 3.51 earnings per share for the current fiscal year.
Service Co. International Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Service Co. International's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, December 13th. Service Co. International's dividend payout ratio is presently 34.88%.
Insider Activity at Service Co. International
In other Service Co. International news, Director Tony Coelho sold 2,555 shares of Service Co. International stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $85.64, for a total transaction of $218,810.20. Following the transaction, the director now directly owns 53,324 shares of the company's stock, valued at approximately $4,566,667.36. The trade was a 4.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Elisabeth G. Nash sold 56,100 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $86.13, for a total value of $4,831,893.00. Following the completion of the sale, the vice president now directly owns 109,260 shares of the company's stock, valued at approximately $9,410,563.80. The trade was a 33.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,655 shares of company stock valued at $9,356,203 in the last 90 days. 5.10% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on SCI shares. StockNews.com downgraded shares of Service Co. International from a "hold" rating to a "sell" rating in a report on Friday, November 8th. Raymond James lifted their price objective on Service Co. International from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Truist Financial increased their target price on Service Co. International from $84.00 to $92.00 and gave the stock a "buy" rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $85.25.
Check Out Our Latest Research Report on SCI
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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