Federated Hermes Inc. Purchases 19,436 Shares of Service Co. International (NYSE:SCI)

Federated Hermes Inc. grew its holdings in shares of Service Co. International (NYSE:SCI) by 6.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 321,593 shares of the company’s stock after purchasing an additional 19,436 shares during the quarter. Federated Hermes Inc.’s holdings in Service Co. International were worth $22,875,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Swedbank AB purchased a new stake in shares of Service Co. International during the 1st quarter valued at approximately $224,137,000. Coho Partners Ltd. lifted its position 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 worth $125,052,000 after acquiring an additional 161,570 shares in the last quarter. Norges Bank bought a new position in shares of Service Co. International in the fourth quarter worth $92,331,000. Premier Fund Managers Ltd grew its position in shares of Service Co. International by 0.7% in the fourth quarter. Premier Fund Managers Ltd now owns 802,004 shares of the company’s stock valued at $55,030,000 after purchasing an additional 5,693 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Service Co. International by 2.7% during the 2nd quarter. Boston Trust Walden Corp now owns 684,846 shares of the company’s stock valued at $48,713,000 after purchasing an additional 17,874 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

SCI has been the subject of several analyst reports. Truist Financial raised their target price on Service Co. International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. StockNews.com lowered shares of Service Co. International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Oppenheimer upped their target price on shares of Service Co. International from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.60.

Service Co. International Stock Performance

NYSE:SCI opened at $79.89 on Monday. The stock has a market cap of $11.54 billion, a P/E ratio of 22.96, a PEG ratio of 2.30 and a beta of 0.84. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 3.05. The business’s 50-day moving average price is $75.79 and its two-hundred day moving average price is $73.09. Service Co. International has a twelve month low of $52.89 and a twelve month high of $80.37.

Service Co. International (NYSE:SCI) last announced its earnings results on Wednesday, July 31st. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). Service Co. International had a net margin of 12.32% and a return on equity of 32.07%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that Service Co. International will post 3.52 EPS for the current fiscal year.

Service Co. International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 1.50%. Service Co. International’s dividend payout ratio (DPR) is presently 34.48%.

Insider Activity at Service Co. International

In other Service Co. International news, Director Ellen Ochoa sold 2,642 shares of Service Co. International stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $76.41, for a total transaction of $201,875.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Thomas L. Ryan sold 80,638 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $73.97, for a total value of $5,964,792.86. Following the completion of the sale, the chief executive officer now owns 988,365 shares of the company’s stock, valued at approximately $73,109,359.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen Ochoa sold 2,642 shares of Service Co. International stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $76.41, for a total transaction of $201,875.22. The disclosure for this sale can be found here. 5.10% of the stock is owned by 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.