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

Intech Investment Management LLC decreased its position in shares of Service Co. International (NYSE:SCI) by 31.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,861 shares of the company’s stock after selling 22,963 shares during the quarter. Intech Investment Management LLC’s holdings in Service Co. International were worth $3,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Select Equity Group L.P. increased its position 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 worth $514,966,000 after buying an additional 2,524,795 shares during the period. Swedbank AB acquired a new stake in Service Co. International during the 1st quarter worth about $224,137,000. Dimensional Fund Advisors LP raised its position in shares of Service Co. International by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,942,559 shares of the company’s stock worth $138,183,000 after acquiring an additional 135,017 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Service Co. International by 3.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,810,148 shares of the company’s stock valued at $142,875,000 after purchasing an additional 61,838 shares during the period. Finally, Premier Fund Managers Ltd boosted its position in shares of Service Co. International by 23.9% during the 3rd quarter. Premier Fund Managers Ltd now owns 1,093,723 shares of the company’s stock valued at $85,721,000 after purchasing an additional 210,802 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In other news, CEO Thomas L. Ryan sold 50,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $86.11, for a total value of $4,305,500.00. Following the completion of the sale, the chief executive officer now owns 982,333 shares in the company, valued at $84,588,694.63. This represents a 4.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Elisabeth G. Nash sold 56,100 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $86.13, for a total transaction of $4,831,893.00. Following the transaction, the vice president now directly owns 109,260 shares in the company, valued at $9,410,563.80. The trade was a 33.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,655 shares of company stock worth $9,356,203 over the last 90 days. 5.10% of the stock is currently owned by corporate insiders.

Service Co. International Stock Performance

NYSE SCI opened at $87.24 on Friday. The company has a market cap of $12.62 billion, a P/E ratio of 25.36, a PEG ratio of 2.52 and a beta of 0.83. The company has a fifty day simple moving average of $79.59 and a 200 day simple moving average of $75.59. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 2.91. Service Co. International has a 12-month low of $60.60 and a 12-month high of $88.32.

Service Co. International (NYSE:SCI) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that Service Co. International will post 3.51 earnings per share for the current fiscal year.

Service Co. International Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, December 13th. This is an increase from Service Co. International’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.42%. Service Co. International’s dividend payout ratio is 34.88%.

Wall Street Analyst Weigh In

SCI has been the topic of several recent analyst reports. Truist Financial boosted their price target on Service Co. International from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Raymond James increased their target price on shares of Service Co. International from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com cut shares of Service Co. International from a “hold” rating to a “sell” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.25.

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.