Intech Investment Management LLC Takes $5.18 Million Position in Service Co. International (NYSE:SCI)

Intech Investment Management LLC purchased a new position in shares of Service Co. International (NYSE:SCI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 72,824 shares of the company’s stock, valued at approximately $5,180,000. Intech Investment Management LLC owned about 0.05% of Service Co. International as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SCI. Bridgefront Capital LLC acquired a new position in shares of Service Co. International during the fourth quarter valued at approximately $852,000. Boulder Hill Capital Management LP purchased a new position in Service Co. International in the 4th quarter valued at $2,492,000. Parallel Advisors LLC boosted its stake in Service Co. International by 3.8% during the 4th quarter. Parallel Advisors LLC now owns 4,515 shares of the company’s stock worth $309,000 after purchasing an additional 165 shares during the last quarter. BDF Gestion purchased a new stake in shares of Service Co. International during the second quarter worth $3,948,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Service Co. International in the first quarter valued at about $865,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Service Co. International Price Performance

Shares of SCI stock opened at $79.50 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.55 and a quick ratio of 0.51. The company has a market capitalization of $11.48 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.31 and a beta of 0.84. The firm’s 50-day moving average is $76.74 and its two-hundred day moving average is $73.33. Service Co. International has a 12 month low of $52.89 and a 12 month high of $81.32.

Service Co. International (NYSE:SCI) last released its quarterly earnings data 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 during 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%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. Analysts predict that Service Co. International will post 3.52 earnings per share for the current year.

Service Co. International Dividend Announcement

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

Insider Buying and Selling

In other Service Co. International 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 transaction of $201,875.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Service Co. International news, Director Ellen Ochoa sold 2,642 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $76.41, for a total transaction of $201,875.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas L. Ryan sold 80,638 shares of Service Co. International stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $73.97, for a total value of $5,964,792.86. Following the completion of the sale, the chief executive officer now directly owns 988,365 shares of the company’s stock, valued at $73,109,359.05. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com cut shares of Service Co. International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Truist Financial increased their price target on Service Co. International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.