Intech Investment Management LLC Sells 22,963 Shares of Service Co. International (NYSE:SCI)

Intech Investment Management LLC trimmed its holdings in shares of Service Co. International (NYSE:SCI) by 31.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,861 shares of the company’s stock after selling 22,963 shares during the period. Intech Investment Management LLC’s holdings in Service Co. International were worth $3,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BDF Gestion bought a new stake in Service Co. International in the second quarter worth about $3,948,000. Boston Trust Walden Corp raised its holdings in shares of Service Co. International by 2.7% in the 2nd quarter. Boston Trust Walden Corp now owns 684,846 shares of the company’s stock worth $48,713,000 after purchasing an additional 17,874 shares during the period. Tidal Investments LLC bought a new stake in shares of Service Co. International in the 1st quarter worth approximately $917,000. Dimensional Fund Advisors LP lifted its stake in Service Co. International by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,942,559 shares of the company’s stock valued at $138,183,000 after purchasing an additional 135,017 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Service Co. International by 12.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 181,902 shares of the company’s stock valued at $14,358,000 after purchasing an additional 19,418 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Service Co. International

In related news, CEO Thomas L. Ryan sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $86.11, for a total transaction of $4,305,500.00. Following the completion of the transaction, the chief executive officer now directly owns 982,333 shares in the company, valued at $84,588,694.63. The trade was a 4.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tony Coelho sold 2,555 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $85.64, for a total value of $218,810.20. Following the completion of the sale, the director now directly owns 53,324 shares in the company, valued at approximately $4,566,667.36. The trade was a 4.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,655 shares of company stock valued at $9,356,203. 5.10% of the stock is currently owned by company insiders.

Service Co. International Stock Performance

NYSE:SCI opened at $87.24 on Friday. The business’s fifty day moving average is $79.59 and its 200 day moving average is $75.59. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.52 and a beta of 0.83. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.48 and a current ratio of 0.52. Service Co. International has a 52-week low of $60.60 and a 52-week high of $88.32.

Service Co. International (NYSE:SCI) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. Service Co. International had a return on equity of 31.84% and a net margin of 12.19%. 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 prior year, the business posted $0.78 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Research analysts predict that Service Co. International will post 3.51 EPS for the current 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 given a dividend of $0.31 per share. This is a positive change from Service Co. International’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, December 13th. Service Co. International’s payout ratio is 34.88%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Raymond James upped their price target on Service Co. International from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of Service Co. International from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Truist Financial lifted their target price on shares of Service Co. International from $84.00 to $92.00 and gave the stock a “buy” rating in a research note 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.25.

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.