CIBC Asset Management Inc Has $397,000 Stock Holdings in Service Co. International (NYSE:SCI)

CIBC Asset Management Inc lowered its holdings in shares of Service Co. International (NYSE:SCI) by 38.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,029 shares of the company’s stock after selling 3,090 shares during the period. CIBC Asset Management Inc’s holdings in Service Co. International were worth $397,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SCI. nVerses Capital LLC raised its stake in Service Co. International by 100.0% during the second quarter. nVerses Capital LLC now owns 400 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Blue Trust Inc. increased its position in Service Co. International by 121.9% during the 2nd quarter. Blue Trust Inc. now owns 708 shares of the company’s stock worth $53,000 after purchasing an additional 389 shares in the last quarter. Waldron Private Wealth LLC bought a new position in Service Co. International in the 3rd quarter valued at approximately $57,000. Quarry LP boosted its position in Service Co. International by 258.6% in the second quarter. Quarry LP now owns 789 shares of the company’s stock valued at $56,000 after buying an additional 569 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Service Co. International during the first quarter worth $65,000. 85.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SCI shares. Truist Financial increased their price target on Service Co. International from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Service Co. International from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Raymond James boosted their price objective on Service Co. International from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $85.25.

Insider Activity

In other news, VP Elisabeth G. Nash sold 56,100 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $86.13, for a total value of $4,831,893.00. Following the completion of the sale, the vice president now owns 109,260 shares in the company, valued at approximately $9,410,563.80. This trade represents a 33.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.10% of the company’s stock.

Service Co. International Stock Up 0.8 %

Shares of Service Co. International stock opened at $86.11 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 2.91. Service Co. International has a 12-month low of $60.23 and a 12-month high of $88.32. The company has a market cap of $12.45 billion, a P/E ratio of 25.03, a PEG ratio of 2.51 and a beta of 0.83. The company’s fifty day simple moving average is $79.46 and its two-hundred day simple moving average is $75.51.

Service Co. International (NYSE:SCI) last issued its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Service Co. International had a return on equity of 31.84% and a net margin of 12.19%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. Research analysts anticipate that Service Co. International will post 3.51 EPS for the current year.

Service Co. International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Service Co. International’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.44%. Service Co. International’s dividend payout ratio is 34.88%.

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.