State of New Jersey Common Pension Fund D Has $3.65 Million Stock Position in Service Co. International (NYSE:SCI)

State of New Jersey Common Pension Fund D reduced its stake in shares of Service Co. International (NYSE:SCI) by 37.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 51,260 shares of the company’s stock after selling 30,656 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Service Co. International were worth $3,646,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Swedbank AB purchased a new stake in shares of Service Co. International during the first quarter worth $224,137,000. Coho Partners Ltd. lifted its holdings 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 valued at $125,052,000 after purchasing an additional 161,570 shares during the last quarter. Norges Bank purchased a new position in Service Co. International in the 4th quarter worth approximately $92,331,000. Premier Fund Managers Ltd raised its holdings in Service Co. International by 0.7% in the 4th quarter. Premier Fund Managers Ltd now owns 802,004 shares of the company’s stock worth $55,030,000 after acquiring an additional 5,693 shares during the last quarter. Finally, Boston Trust Walden Corp raised its holdings in 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 acquiring an additional 17,874 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Service Co. International

In other news, CEO Thomas L. Ryan sold 80,638 shares of Service Co. International stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $73.97, for a total transaction of $5,964,792.86. Following the completion of the sale, the chief executive officer now directly owns 988,365 shares in the company, valued at $73,109,359.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Thomas L. Ryan sold 80,638 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $73.97, for a total transaction of $5,964,792.86. Following the completion of the transaction, the chief executive officer now directly owns 988,365 shares in the company, valued at $73,109,359.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellen Ochoa sold 2,642 shares of Service Co. International stock in a transaction on Thursday, August 22nd. The shares were 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 currently owned by corporate insiders.

Service Co. International Stock Performance

Service Co. International stock opened at $80.52 on Wednesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.55 and a quick ratio of 0.51. Service Co. International has a 1-year low of $52.89 and a 1-year high of $81.32. The firm has a market capitalization of $11.72 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 2.30 and a beta of 0.84. The company’s 50-day moving average is $76.22 and its 200 day moving average is $73.20.

Service Co. International (NYSE:SCI) last posted its quarterly earnings data 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 return on equity of 32.07% and a net margin of 12.32%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the company earned $0.83 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts forecast that Service Co. International will post 3.52 EPS for the current year.

Service Co. International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, September 13th. Service Co. International’s payout ratio is 34.48%.

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.