Clearbridge Investments LLC Has $23.21 Million Stock Position in Service Co. International (NYSE:SCI)

Clearbridge Investments LLC reduced its holdings in shares of Service Co. International (NYSE:SCI) by 14.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,355 shares of the company’s stock after selling 56,555 shares during the quarter. Clearbridge Investments LLC’s holdings in Service Co. International were worth $23,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. acquired a new position in shares of Service Co. International during the second quarter valued at about $203,000. Quarry LP grew its holdings in shares of Service Co. International by 258.6% during the second quarter. Quarry LP now owns 789 shares of the company’s stock valued at $56,000 after buying an additional 569 shares during the last quarter. Creative Planning grew its holdings in shares of Service Co. International by 35.2% during the second quarter. Creative Planning now owns 24,005 shares of the company’s stock valued at $1,707,000 after buying an additional 6,256 shares during the last quarter. Algert Global LLC grew its holdings in shares of Service Co. International by 65.7% during the second quarter. Algert Global LLC now owns 32,757 shares of the company’s stock valued at $2,330,000 after buying an additional 12,989 shares during the last quarter. Finally, Scientech Research LLC acquired a new position in shares of Service Co. International during the second quarter valued at about $1,285,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Service Co. International

In other Service Co. International news, Director Ellen Ochoa sold 2,642 shares of the business’s stock in a transaction dated 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 is available through this hyperlink. In other news, CEO Thomas L. Ryan sold 80,638 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 988,365 shares of the company’s stock, valued at $73,109,359.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ellen Ochoa sold 2,642 shares of the business’s stock in a transaction that occurred 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. Corporate insiders own 5.10% of the company’s stock.

Service Co. International Stock Down 0.6 %

Service Co. International stock opened at $76.16 on Friday. Service Co. International has a fifty-two week low of $52.89 and a fifty-two week high of $81.32. The stock has a market cap of $11.00 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84. The firm’s 50-day simple moving average is $77.40 and its 200 day simple moving average is $73.60. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.51 and a current ratio of 0.55.

Service Co. International (NYSE:SCI) last released 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). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Service Co. International had a net margin of 12.32% and a return on equity of 32.07%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Research 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 was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, September 13th. Service Co. International’s payout ratio is 34.48%.

Analysts Set New Price Targets

Several research analysts recently weighed in on SCI shares. StockNews.com cut shares of Service Co. International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. 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 report on Friday, June 21st.

Service Co. International Company 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.