Service Co. International (NYSE:SCI) Position Trimmed by Baillie Gifford & Co.

Baillie Gifford & Co. lessened its stake in Service Co. International (NYSE:SCI - Free Report) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,529,330 shares of the company's stock after selling 469,996 shares during the period. Baillie Gifford & Co. owned about 8.68% of Service Co. International worth $988,940,000 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 stock. Swedbank AB acquired a new position in shares of Service Co. International during the first quarter valued at $224,137,000. Select Equity Group L.P. boosted 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. Millennium Management LLC boosted its holdings in shares of Service Co. International by 646.5% during the second quarter. Millennium Management LLC now owns 267,860 shares of the company's stock valued at $19,053,000 after acquiring an additional 231,980 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Service Co. International during the second quarter valued at $14,226,000. Finally, Coho Partners Ltd. boosted its holdings 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 valued at $125,052,000 after acquiring an additional 161,570 shares during the period. Institutional investors own 85.53% of the company's stock.

Service Co. International Stock Performance

Shares of NYSE SCI traded down $0.36 during midday trading on Tuesday, reaching $86.15. 389,965 shares of the company traded hands, compared to its average volume of 904,846. Service Co. International has a 52 week low of $57.49 and a 52 week high of $88.32. The stock has a 50-day moving average price of $78.52 and a 200 day moving average price of $74.83. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.52 and a quick ratio of 0.48. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 2.54 and a beta of 0.83.

Service Co. International (NYSE:SCI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Service Co. International had a net margin of 12.19% and a return on equity of 31.84%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the business earned $0.78 earnings per share. Service Co. International's revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Service Co. International's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.44%. Service Co. International's payout ratio is 34.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Service Co. International from a "hold" rating to a "sell" rating in a report on Friday. Truist Financial lifted their price objective on shares of Service Co. International from $84.00 to $92.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Raymond James lifted their price objective on shares of Service Co. International from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Service Co. International presently has an average rating of "Moderate Buy" and an average price target of $85.25.

Insiders Place Their Bets

In other Service Co. International news, Director Ellen Ochoa sold 2,642 shares of the business's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $76.41, for a total value of $201,875.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.10% of the stock is owned by company insiders.

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.