Barclays PLC Increases Stock Position in Service Co. International (NYSE:SCI)

Barclays PLC lifted its holdings in shares of Service Co. International (NYSE:SCI) by 94.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,375 shares of the company’s stock after buying an additional 59,956 shares during the period. Barclays PLC’s holdings in Service Co. International were worth $9,738,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in Service Co. International by 300.6% during the third quarter. FMR LLC now owns 4,055,823 shares of the company’s stock worth $320,126,000 after acquiring an additional 3,043,354 shares during the period. Select Equity Group L.P. boosted its position 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 purchasing an additional 2,524,795 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of Service Co. International by 2,527.9% during the 3rd quarter. Verition Fund Management LLC now owns 293,329 shares of the company’s stock worth $23,152,000 after purchasing an additional 282,167 shares during the period. Millennium Management LLC increased its holdings in shares of Service Co. International by 646.5% in the 2nd quarter. Millennium Management LLC now owns 267,860 shares of the company’s stock valued at $19,053,000 after purchasing an additional 231,980 shares in the last quarter. Finally, Premier Fund Managers Ltd lifted its stake in shares of Service Co. International by 23.9% in the third 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 during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCI has been the subject of a number of research analyst reports. StockNews.com raised shares of Service Co. International from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Oppenheimer raised their price objective on Service Co. International from $86.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial boosted their target price 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. Finally, Raymond James upped their target price on Service Co. International from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Service Co. International currently has a consensus rating of “Moderate Buy” and an average price target of $88.50.

Insiders Place Their Bets

In other news, Director Tony Coelho sold 2,555 shares of the firm’s 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 in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Elisabeth G. Nash sold 56,100 shares of Service Co. International stock in a transaction on 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. This represents a 33.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,655 shares of company stock valued at $9,356,203 in the last ninety days. Insiders own 5.10% of the company’s stock.

Service Co. International Trading Down 0.4 %

Shares of Service Co. International stock opened at $85.54 on Tuesday. Service Co. International has a 1 year low of $64.10 and a 1 year high of $89.37. 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 business has a 50 day moving average price of $82.52 and a 200 day moving average price of $77.71. The company has a market capitalization of $12.37 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.51 and a beta of 0.85.

Service Co. International (NYSE:SCI) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Service Co. International had a return on equity of 31.84% and a net margin of 12.19%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. Sell-side analysts anticipate that Service Co. International will post 3.51 EPS for the current fiscal year.

Service Co. International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.45%. This is a positive change 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%.

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.