Bank of New York Mellon Corp bought a new stake in Service Corporation International (NYSE:SCI - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,065,888 shares of the company's stock, valued at approximately $80,965,000. Bank of New York Mellon Corp owned 0.78% of Service Corporation International as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of SCI. Brighton Jones LLC acquired a new stake in shares of Service Corporation International in the fourth quarter worth $435,000. Royal Bank of Canada lifted its holdings in shares of Service Corporation International by 38.8% during the 1st quarter. Royal Bank of Canada now owns 121,883 shares of the company's stock valued at $9,775,000 after acquiring an additional 34,051 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Service Corporation International by 48.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 417,387 shares of the company's stock worth $33,474,000 after purchasing an additional 136,770 shares during the period. Focus Partners Wealth boosted its position in Service Corporation International by 3.1% during the 1st quarter. Focus Partners Wealth now owns 10,571 shares of the company's stock worth $848,000 after purchasing an additional 321 shares during the period. Finally, Baird Financial Group Inc. increased its holdings in Service Corporation International by 32.6% in the 2nd quarter. Baird Financial Group Inc. now owns 9,753 shares of the company's stock valued at $794,000 after purchasing an additional 2,398 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.
Service Corporation International Price Performance
Shares of SCI opened at $84.46 on Wednesday. Service Corporation International has a 52 week low of $68.41 and a 52 week high of $90.99. The company has a current ratio of 0.53, a quick ratio of 0.49 and a debt-to-equity ratio of 3.32. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.87 and a beta of 0.81. The stock has a 50 day moving average of $80.10 and a 200-day moving average of $79.87.
Service Corporation International (NYSE:SCI - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.08 billion. Service Corporation International had a net margin of 12.30% and a return on equity of 34.38%. The firm's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. Service Corporation International has set its FY 2026 guidance at 4.100-4.300 EPS. As a group, analysts forecast that Service Corporation International will post 4.18 EPS for the current year.
Service Corporation International Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 15th. Service Corporation International's payout ratio is 37.60%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on SCI shares. JPMorgan Chase & Co. dropped their target price on Service Corporation International from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. UBS Group upped their price target on Service Corporation International from $93.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Wall Street Zen raised shares of Service Corporation International from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings cut shares of Service Corporation International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $100.67.
Get Our Latest Stock Analysis on SCI
Insider Transactions at Service Corporation International
In other news, CEO Thomas L. Ryan sold 253,391 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $85.25, for a total value of $21,601,582.75. Following the completion of the sale, the chief executive officer directly owned 1,006,212 shares of the company's stock, valued at approximately $85,779,573. This represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.40% of the company's stock.
Service Corporation International Profile
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Free Report)
Service Corporation International NYSE: SCI is a leading provider of funeral, cremation and cemetery services in North America. Through its network of funeral homes, cemeteries, memorial parks and crematoria, the company offers a broad array of end-of-life services, including traditional funeral ceremonies, memorialization, burial and cremation. In addition to core services, SCI provides grief counseling, pre-need planning and merchandise such as caskets, vaults, urns and memorialization products.
Headquartered in Houston, Texas, Service Corporation International operates more than 1,900 funeral homes, over 450 cemeteries and 40 combination facilities across the United States and Canada.
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