Service Co. International (NYSE:SCI) Shares Bought by Seven Eight Capital LP

Seven Eight Capital LP raised its holdings in Service Co. International (NYSE:SCI) by 237.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,287 shares of the company’s stock after buying an additional 17,081 shares during the quarter. Seven Eight Capital LP’s holdings in Service Co. International were worth $1,728,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SCI. Principal Securities Inc. acquired a new stake in Service Co. International in the 4th quarter worth approximately $102,000. Avantax Advisory Services Inc. acquired a new stake in shares of Service Co. International during the fourth quarter worth $216,000. Quadrant Capital Group LLC grew its holdings in shares of Service Co. International by 296.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,224 shares of the company’s stock valued at $152,000 after buying an additional 1,663 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new position in shares of Service Co. International in the 4th quarter valued at $209,000. Finally, Norges Bank purchased a new position in Service Co. International in the 4th quarter worth $92,331,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Service Co. International Stock Down 1.3 %

Shares of Service Co. International stock opened at $79.54 on Thursday. Service Co. International has a one year low of $52.89 and a one year high of $81.32. The company has a market cap of $11.58 billion, a P/E ratio of 22.86, a PEG ratio of 2.30 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. The firm has a fifty day moving average of $76.42 and a two-hundred day moving average of $73.24.

Service Co. International (NYSE:SCI) last announced its quarterly earnings data 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 business 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%. Service Co. International’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. On average, analysts forecast that Service Co. International will post 3.52 earnings per share for the current year.

Service Co. International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. Service Co. International’s dividend payout ratio (DPR) is presently 34.48%.

Insider Activity

In related news, CEO Thomas L. Ryan sold 80,638 shares of Service Co. International stock in a transaction 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 directly owns 988,365 shares of the company’s stock, valued at $73,109,359.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Ellen Ochoa sold 2,642 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 80,638 shares of Service Co. International stock in a transaction dated 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 transaction, the chief executive officer now owns 988,365 shares of the company’s stock, valued at approximately $73,109,359.05. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SCI. Oppenheimer increased their price objective on Service Co. International from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Wednesday, May 22nd. StockNews.com downgraded shares of Service Co. International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Truist Financial lifted their price objective on shares of Service Co. International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.60.

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.