Glenmede Trust Co. NA lowered its stake in Service Co. International (NYSE:SCI - Free Report) by 53.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,985 shares of the company's stock after selling 9,059 shares during the quarter. Glenmede Trust Co. NA's holdings in Service Co. International were worth $630,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC raised its holdings in shares of Service Co. International by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 400 shares of the company's stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Service Co. International by 121.9% in the 2nd quarter. Blue Trust Inc. now owns 708 shares of the company's stock valued at $53,000 after acquiring an additional 389 shares during the last quarter. Quarry LP lifted its stake in Service Co. International by 258.6% during the second quarter. Quarry LP now owns 789 shares of the company's stock worth $56,000 after purchasing an additional 569 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in Service Co. International in the third quarter valued at approximately $57,000. Finally, Farther Finance Advisors LLC increased its stake in Service Co. International by 36.8% in the third quarter. Farther Finance Advisors LLC now owns 926 shares of the company's stock valued at $73,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.
Service Co. International Stock Performance
Service Co. International stock traded down $0.48 during mid-day trading on Wednesday, reaching $87.47. 227,533 shares of the company were exchanged, compared to its average volume of 905,005. The firm has a market cap of $12.65 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.48 and a current ratio of 0.52. The firm's 50-day simple moving average is $80.94 and its two-hundred day simple moving average is $76.71. Service Co. International has a twelve month low of $63.88 and a twelve month high of $89.37.
Service Co. International (NYSE:SCI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Service Co. International had a return on equity of 31.84% and a net margin of 12.19%. The company's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. Equities analysts predict that Service Co. International will post 3.51 earnings per share for the current fiscal year.
Service Co. International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from Service Co. International's previous quarterly dividend of $0.30. The ex-dividend date is Friday, December 13th. Service Co. International's dividend payout ratio is 34.88%.
Insider Activity
In related news, Director Tony Coelho sold 2,555 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $85.64, for a total transaction of $218,810.20. Following the sale, the director now owns 53,324 shares of the company's stock, valued at $4,566,667.36. This trade represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Elisabeth G. Nash sold 56,100 shares of the firm's stock in a transaction dated 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 directly owns 109,260 shares in the company, valued at $9,410,563.80. This represents a 33.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,655 shares of company stock valued at $9,356,203 in the last three months. 4.60% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on SCI shares. Raymond James upped their target price on shares of Service Co. International from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, November 1st. StockNews.com lowered Service Co. International from a "hold" rating to a "sell" rating in a report on Friday, November 8th. Finally, Truist Financial lifted their price target on Service Co. International from $84.00 to $92.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.25.
Read Our Latest Stock Analysis on Service Co. International
Service Co. International Company 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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