Service Co. International (NYSE:SCI) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in shares of Service Co. International (NYSE:SCI) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,810,148 shares of the company’s stock after purchasing an additional 61,838 shares during the quarter. Service Co. International makes up about 0.6% of Handelsbanken Fonder AB’s holdings, making the stock its 25th largest position. Handelsbanken Fonder AB’s holdings in Service Co. International were worth $142,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB acquired a new position in Service Co. International in the first quarter worth about $224,137,000. Select Equity Group L.P. lifted its holdings in Service Co. International by 53.5% during the 2nd quarter. Select Equity Group L.P. now owns 7,239,783 shares of the company’s stock worth $514,966,000 after buying an additional 2,524,795 shares during the last quarter. Jennison Associates LLC grew its position in shares of Service Co. International by 430.3% in the 1st quarter. Jennison Associates LLC now owns 357,075 shares of the company’s stock worth $26,499,000 after acquiring an additional 289,741 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Service Co. International by 646.5% in the 2nd quarter. Millennium Management LLC now owns 267,860 shares of the company’s stock valued at $19,053,000 after acquiring an additional 231,980 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Service Co. International during the 2nd quarter valued at approximately $14,226,000. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ellen Ochoa sold 2,642 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $76.41, for a total value of $201,875.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Ellen Ochoa sold 2,642 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas L. Ryan sold 80,638 shares of Service Co. International 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 transaction, the chief executive officer now owns 988,365 shares in the company, valued at approximately $73,109,359.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on SCI. 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 report on Friday, June 21st. StockNews.com downgraded Service Co. International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

Service Co. International Stock Performance

Shares of SCI traded down $0.46 during midday trading on Friday, hitting $76.17. 971,992 shares of the stock traded hands, compared to its average volume of 791,173. The business’s 50 day moving average price is $77.40 and its two-hundred day moving average price is $73.60. The firm has a market capitalization 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 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 has a 1-year low of $52.89 and a 1-year high of $81.32.

Service Co. International (NYSE:SCI) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Service Co. International had a net margin of 12.32% and a return on equity of 32.07%. Service Co. International’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.83 earnings per share. Equities research analysts predict that Service Co. International will post 3.52 EPS for the current fiscal year.

Service Co. International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.58%. Service Co. International’s dividend payout ratio (DPR) 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.