Clearbridge Investments LLC Sells 56,555 Shares of Service Co. International (NYSE:SCI)

Clearbridge Investments LLC cut its holdings in Service Co. International (NYSE:SCI) by 14.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,355 shares of the company’s stock after selling 56,555 shares during the quarter. Clearbridge Investments LLC owned approximately 0.22% of Service Co. International worth $23,214,000 at the end of the most recent reporting period.

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 worth $852,000. BDF Gestion acquired a new position in Service Co. International in the 2nd quarter worth about $3,948,000. Diversify Advisory Services LLC acquired a new position in Service Co. International in the 1st quarter worth about $865,000. Boston Trust Walden Corp raised its position in Service Co. International by 2.7% in the second quarter. Boston Trust Walden Corp now owns 684,846 shares of the company’s stock valued at $48,713,000 after purchasing an additional 17,874 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Service Co. International by 12.8% during the first quarter. Sei Investments Co. now owns 103,477 shares of the company’s stock valued at $7,680,000 after purchasing an additional 11,709 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Insider Buying and Selling

In related news, 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 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 $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 Securities & Exchange Commission, which is available at the SEC website. In other Service Co. International news, Director Ellen Ochoa sold 2,642 shares of Service Co. International stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $76.41, for a total value of $201,875.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction 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 approximately $73,109,359.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.10% of the stock is owned by insiders.

Service Co. International Price Performance

Shares of NYSE:SCI opened at $76.16 on Friday. The firm has a market cap of $11.00 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84. The firm’s fifty day moving average is $77.40 and its 200-day moving average is $73.60. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.51 and a current ratio of 0.55. Service Co. International has a 52 week low of $52.89 and a 52 week high of $81.32.

Service Co. International (NYSE:SCI) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.03 billion. Service Co. International had a return on equity of 32.07% and a net margin of 12.32%. Service Co. International’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Sell-side analysts predict that Service Co. International will post 3.52 earnings per share for the current year.

Service Co. International Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SCI. Truist Financial upped their price objective on Service Co. International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, June 21st. StockNews.com downgraded shares of Service Co. International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

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.