Sanders Morris Harris LLC Makes New Investment in Service Co. International (NYSE:SCI)

Sanders Morris Harris LLC bought a new stake in shares of Service Co. International (NYSE:SCI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,949 shares of the company’s stock, valued at approximately $441,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Handelsbanken Fonder AB grew its position in Service Co. International by 0.5% in the fourth quarter. Handelsbanken Fonder AB now owns 1,920,710 shares of the company’s stock worth $131,473,000 after acquiring an additional 10,000 shares in the last quarter. Northern Trust Corp increased its position in shares of Service Co. International by 2.4% during the 3rd quarter. Northern Trust Corp now owns 1,447,701 shares of the company’s stock valued at $82,722,000 after purchasing an additional 34,596 shares during the last quarter. Norges Bank purchased a new stake in Service Co. International during the 4th quarter valued at $92,331,000. Charles Schwab Investment Management Inc. lifted its position in Service Co. International by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 908,456 shares of the company’s stock worth $62,184,000 after buying an additional 9,381 shares during the last quarter. Finally, Premier Fund Managers Ltd increased its position in Service Co. International by 0.7% during the fourth quarter. Premier Fund Managers Ltd now owns 802,004 shares of the company’s stock valued at $55,030,000 after acquiring an additional 5,693 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Victor L. Lund sold 7,606 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $70.00, for a total value of $532,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Service Co. International news, Director Victor L. Lund sold 7,606 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $70.00, for a total value of $532,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Victor L. Lund sold 1,011 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $70.00, for a total transaction of $70,770.00. Following the completion of the sale, the director now owns 7,606 shares in the company, valued at $532,420. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,517 shares of company stock worth $813,092. Corporate insiders own 5.10% of the company’s stock.

Service Co. International Trading Up 1.7 %

NYSE:SCI traded up $1.26 during midday trading on Friday, hitting $73.28. The stock had a trading volume of 1,615,518 shares, compared to its average volume of 797,819. The stock has a 50-day moving average of $70.71 and a 200 day moving average of $70.33. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.95 and a beta of 0.85. Service Co. International has a one year low of $52.89 and a one year high of $75.97. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 2.90.

Service Co. International (NYSE:SCI) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Service Co. International had a return on equity of 32.23% and a net margin of 12.73%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Service Co. International will post 3.66 EPS for the current year.

Service Co. International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.30 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.64%. Service Co. International’s payout ratio is presently 34.48%.

Analyst Upgrades and Downgrades

SCI has been the subject of a number of recent analyst reports. Oppenheimer lifted their price target on shares of Service Co. International from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. UBS Group upped their target price on Service Co. International from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Truist Financial raised their price target on Service Co. International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.00.

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.