Raymond James Trust N.A. Buys Shares of 2,912 Service Co. International (NYSE:SCI)

Raymond James Trust N.A. purchased a new position in shares of Service Co. International (NYSE:SCI) during the third quarter, Holdings Channel reports. The institutional investor purchased 2,912 shares of the company’s stock, valued at approximately $230,000.

Several other institutional investors have also recently made changes to their positions in the company. Commerce Bank increased its holdings in Service Co. International by 16.3% during the third quarter. Commerce Bank now owns 8,897 shares of the company’s stock valued at $702,000 after buying an additional 1,248 shares during the period. Premier Fund Managers Ltd increased its holdings in shares of Service Co. International by 23.9% in the 3rd quarter. Premier Fund Managers Ltd now owns 1,093,723 shares of the company’s stock valued at $85,721,000 after acquiring an additional 210,802 shares during the period. Prospera Financial Services Inc raised its position in shares of Service Co. International by 26.1% in the 3rd quarter. Prospera Financial Services Inc now owns 5,221 shares of the company’s stock worth $412,000 after acquiring an additional 1,081 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Service Co. International by 110,300.0% during the 3rd quarter. Quest Partners LLC now owns 1,104 shares of the company’s stock worth $87,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Service Co. International by 23.9% during the third quarter. Thrivent Financial for Lutherans now owns 68,364 shares of the company’s stock valued at $5,396,000 after purchasing an additional 13,209 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Service Co. International Stock Up 0.4 %

SCI stock opened at $88.60 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 2.91. Service Co. International has a 52 week low of $60.60 and a 52 week high of $89.31. The stock has a market capitalization of $12.81 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.83. The firm has a 50 day moving average of $80.24 and a 200 day moving average of $76.16.

Service Co. International (NYSE:SCI) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Service Co. International had a net margin of 12.19% and a return on equity of 31.84%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. Sell-side analysts forecast that Service Co. International will post 3.51 earnings per share 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. This represents a $1.24 annualized dividend and a dividend yield of 1.40%. This is a boost from Service Co. International’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, December 13th. Service Co. International’s dividend payout ratio (DPR) is presently 34.88%.

Insider Buying and Selling

In other news, Director Tony Coelho sold 2,555 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $85.64, for a total value of $218,810.20. Following the completion of the transaction, the director now owns 53,324 shares of the company’s stock, valued at $4,566,667.36. The trade was a 4.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas L. Ryan sold 50,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $86.11, for a total value of $4,305,500.00. Following the sale, the chief executive officer now directly owns 982,333 shares in the company, valued at approximately $84,588,694.63. This trade represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,655 shares of company stock valued at $9,356,203 over the last quarter. 4.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Raymond James increased their price target on shares of Service Co. International from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com cut shares of Service Co. International from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Truist Financial lifted their price target on shares of Service Co. International from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.25.

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.