Millennium Management LLC Acquires 231,980 Shares of Service Co. International (NYSE:SCI)

Millennium Management LLC lifted its holdings in Service Co. International (NYSE:SCI) by 646.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 267,860 shares of the company’s stock after acquiring an additional 231,980 shares during the quarter. Millennium Management LLC owned 0.19% of Service Co. International worth $19,053,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Swedbank AB bought a new position in Service Co. International during the 1st quarter worth approximately $224,137,000. Jennison Associates LLC increased its stake in shares of Service Co. International by 430.3% in the first quarter. Jennison Associates LLC now owns 357,075 shares of the company’s stock worth $26,499,000 after buying an additional 289,741 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Service Co. International in the second quarter worth $14,226,000. Coho Partners Ltd. raised its holdings in Service Co. International by 10.6% during the 1st quarter. Coho Partners Ltd. now owns 1,685,111 shares of the company’s stock valued at $125,052,000 after buying an additional 161,570 shares during the last quarter. Finally, Groupama Asset Managment purchased a new stake in Service Co. International during the 4th quarter valued at $10,280,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Activity at Service Co. International

In other Service Co. International news, CEO Thomas L. Ryan sold 80,638 shares of the stock in a transaction on Wednesday, August 7th. The stock was 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 owns 988,365 shares in the company, valued at approximately $73,109,359.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ellen Ochoa sold 2,642 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 can be accessed through this link. Also, CEO Thomas L. Ryan sold 80,638 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 owns 988,365 shares in the company, valued at $73,109,359.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SCI shares. Truist Financial boosted 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 report on Friday, June 21st. StockNews.com lowered Service Co. International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

Service Co. International Stock Down 0.6 %

Shares of Service Co. International stock opened at $76.17 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 3.05. Service Co. International has a 12-month low of $52.89 and a 12-month high of $81.32. The company has a market cap of $11.00 billion, a P/E ratio of 21.89, a PEG ratio of 2.23 and a beta of 0.84. The company’s fifty day simple moving average is $77.40 and its two-hundred day simple moving average is $73.60.

Service Co. International (NYSE:SCI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. Service Co. International’s quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts anticipate 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%.

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.