Service Co. International (NYSE:SCI) Position Boosted by State of Michigan Retirement System

State of Michigan Retirement System raised its holdings in shares of Service Co. International (NYSE:SCI) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,262 shares of the company’s stock after acquiring an additional 800 shares during the period. State of Michigan Retirement System’s holdings in Service Co. International were worth $2,691,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mariner LLC raised its stake in shares of Service Co. International by 11.1% during the third quarter. Mariner LLC now owns 9,597 shares of the company’s stock valued at $548,000 after purchasing an additional 958 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Service Co. International during the 3rd quarter worth about $1,359,000. Resources Management Corp CT ADV lifted its stake in shares of Service Co. International by 19.2% in the 3rd quarter. Resources Management Corp CT ADV now owns 15,713 shares of the company’s stock worth $898,000 after acquiring an additional 2,535 shares during the period. Comerica Bank bought a new position in shares of Service Co. International in the third quarter valued at approximately $4,712,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Service Co. International by 87.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 53,466 shares of the company’s stock valued at $3,055,000 after acquiring an additional 24,941 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Service Co. International Stock Performance

SCI opened at $70.08 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 2.90. The firm has a market cap of $10.20 billion, a PE ratio of 20.14, a P/E/G ratio of 1.90 and a beta of 0.84. The business has a fifty day simple moving average of $71.03 and a 200-day simple moving average of $70.60. Service Co. International has a fifty-two week low of $52.89 and a fifty-two week high of $75.97.

Service Co. International (NYSE:SCI) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. Service Co. International had a return on equity of 32.23% and a net margin of 12.73%. Service Co. International’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.93 EPS. As a group, equities analysts predict that Service Co. International will post 3.66 EPS for the current fiscal year.

Service Co. International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.30 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.71%. Service Co. International’s dividend payout ratio (DPR) is presently 34.48%.

Insider Buying and Selling

In other news, Director Victor L. Lund sold 7,606 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $70.00, for a total value of $532,420.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Service Co. International news, Director Victor L. Lund sold 7,606 shares of Service Co. International stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $70.00, for a total transaction of $532,420.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Tony Coelho sold 2,900 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $72.38, for a total transaction of $209,902.00. Following the completion of the sale, the director now directly owns 60,629 shares of the company’s stock, valued at $4,388,327.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,517 shares of company stock valued at $813,092. Company insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SCI. Oppenheimer upped their target price on Service Co. International from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. UBS Group raised their target price on Service Co. International from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Truist Financial lifted their target price on Service Co. International from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Service Co. International currently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

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.