Seven Eight Capital LP Raises Stock Holdings in Service Co. International (NYSE:SCI)

Seven Eight Capital LP lifted its stake in shares of Service Co. International (NYSE:SCI) by 237.0% during the second quarter, Holdings Channel reports. The fund owned 24,287 shares of the company’s stock after purchasing an additional 17,081 shares during the quarter. Seven Eight Capital LP’s holdings in Service Co. International were worth $1,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its stake in shares of Service Co. International by 14.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $87,000 after buying an additional 151 shares during the period. Larson Financial Group LLC grew its position in Service Co. International by 5.6% during the second quarter. Larson Financial Group LLC now owns 3,020 shares of the company’s stock valued at $215,000 after acquiring an additional 159 shares during the period. Parallel Advisors LLC grew its position in Service Co. International by 3.8% during the fourth quarter. Parallel Advisors LLC now owns 4,515 shares of the company’s stock valued at $309,000 after acquiring an additional 165 shares during the period. HB Wealth Management LLC increased its stake in Service Co. International by 3.5% during the second quarter. HB Wealth Management LLC now owns 4,894 shares of the company’s stock worth $348,000 after acquiring an additional 165 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Service Co. International by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 1,254 shares of the company’s stock worth $93,000 after purchasing an additional 174 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Service Co. International Stock Down 1.3 %

NYSE SCI opened at $79.54 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 3.05. Service Co. International has a fifty-two week low of $52.89 and a fifty-two week high of $81.32. The business has a 50 day moving average price of $76.42 and a two-hundred day moving average price of $73.24. The stock has a market cap of $11.58 billion, a PE ratio of 22.86, a P/E/G ratio of 2.30 and a beta of 0.84.

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 the consensus estimate 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 firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company posted $0.83 earnings per share. Service Co. International’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Service Co. International will post 3.52 EPS for the current fiscal year.

Service Co. International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, September 13th. Service Co. International’s payout ratio is 34.48%.

Insider Transactions at Service Co. International

In other Service Co. International news, CEO Thomas L. Ryan sold 80,638 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 owns 988,365 shares in the company, valued at approximately $73,109,359.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Ellen Ochoa sold 2,642 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $76.41, for a total value of $201,875.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas L. Ryan sold 80,638 shares of the 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 transaction, the chief executive officer now owns 988,365 shares in the company, valued at $73,109,359.05. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.