Mackenzie Financial Corp Buys New Shares in Service Co. International (NYSE:SCI)

Mackenzie Financial Corp purchased a new position in Service Co. International (NYSE:SCI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,994 shares of the company’s stock, valued at approximately $426,000.

Other institutional investors have also added to or reduced their stakes in the company. Bridgefront Capital LLC bought a new stake in shares of Service Co. International in the 4th quarter valued at about $852,000. BDF Gestion bought a new stake in Service Co. International in the second quarter valued at approximately $3,948,000. Diversify Advisory Services LLC purchased a new stake in shares of Service Co. International during the first quarter valued at approximately $865,000. Boston Trust Walden Corp grew its holdings in shares of Service Co. International by 2.7% in the second quarter. Boston Trust Walden Corp now owns 684,846 shares of the company’s stock worth $48,713,000 after purchasing an additional 17,874 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Service Co. International by 12.8% in the first quarter. Sei Investments Co. now owns 103,477 shares of the company’s stock worth $7,680,000 after buying an additional 11,709 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Service Co. International Stock Performance

NYSE:SCI opened at $76.17 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 3.05. The firm’s fifty day simple moving average is $77.40 and its 200 day simple moving average is $73.60. The stock has a market cap of $11.00 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84. Service Co. International has a twelve month low of $52.89 and a twelve month high of $81.32.

Service Co. International (NYSE:SCI) last announced its earnings results 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). Service Co. International had a net margin of 12.32% and a return on equity of 32.07%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts predict that Service Co. International will post 3.52 EPS for the current year.

Service Co. International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, September 13th. Service Co. International’s payout ratio is presently 34.48%.

Analyst Upgrades and Downgrades

SCI has been the subject of several analyst reports. Truist Financial increased their price target on shares of Service Co. International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, June 21st. StockNews.com lowered shares of Service Co. International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.

Insider Activity at Service Co. International

In other Service Co. International news, CEO Thomas L. Ryan sold 80,638 shares of the firm’s 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 owns 988,365 shares of the company’s stock, valued at approximately $73,109,359.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Thomas L. Ryan sold 80,638 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 988,365 shares in the company, valued at $73,109,359.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen Ochoa sold 2,642 shares of Service Co. International 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 disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.

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.