Edgestream Partners L.P. Purchases Shares of 27,977 Service Co. International (NYSE:SCI)

Edgestream Partners L.P. acquired a new position in shares of Service Co. International (NYSE:SCI) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 27,977 shares of the company’s stock, valued at approximately $2,208,000.

A number of other large investors have also recently made changes to their positions in the company. Select Equity Group L.P. grew its holdings in Service Co. International by 53.5% during the 2nd quarter. Select Equity Group L.P. now owns 7,239,783 shares of the company’s stock worth $514,966,000 after acquiring an additional 2,524,795 shares in the last quarter. FMR LLC lifted its position in shares of Service Co. International by 300.6% during the 3rd quarter. FMR LLC now owns 4,055,823 shares of the company’s stock worth $320,126,000 after purchasing an additional 3,043,354 shares during the last quarter. Swedbank AB lifted its position in shares of Service Co. International by 1.9% during the 3rd quarter. Swedbank AB now owns 2,900,020 shares of the company’s stock worth $228,899,000 after purchasing an additional 55,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Service Co. International by 7.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,942,559 shares of the company’s stock worth $138,183,000 after purchasing an additional 135,017 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Service Co. International by 3.5% in the third quarter. Handelsbanken Fonder AB now owns 1,810,148 shares of the company’s stock valued at $142,875,000 after buying an additional 61,838 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Service Co. International Stock Down 0.5 %

SCI opened at $88.18 on Tuesday. Service Co. International has a one year low of $61.38 and a one year high of $89.37. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.48 and a current ratio of 0.52. The stock has a market capitalization of $12.75 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 2.59 and a beta of 0.85. The business’s 50-day simple moving average is $80.77 and its 200-day simple moving average is $76.59.

Service Co. International (NYSE:SCI) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Service Co. International had a return on equity of 31.84% and a net margin of 12.19%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that Service Co. International will post 3.51 EPS for the current year.

Service Co. International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.31 dividend. This is an increase from Service Co. International’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, December 13th. This represents a $1.24 annualized dividend and a yield of 1.41%. Service Co. International’s dividend payout ratio is 34.88%.

Insider Buying and Selling

In related news, Director Tony Coelho sold 2,555 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $85.64, for a total value of $218,810.20. Following the transaction, the director now owns 53,324 shares in the company, valued at $4,566,667.36. The trade was a 4.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Elisabeth G. Nash sold 56,100 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $86.13, for a total value of $4,831,893.00. Following the sale, the vice president now directly owns 109,260 shares of the company’s stock, valued at $9,410,563.80. The trade was a 33.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,655 shares of company stock worth $9,356,203 in the last 90 days. Company insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

SCI has been the subject of a number of recent analyst reports. StockNews.com downgraded Service Co. International from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Raymond James boosted their target price on Service Co. International from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial increased their price target on shares of Service Co. International from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Service Co. International currently has a consensus rating of “Moderate Buy” and an average price target of $85.25.

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.