AQR Capital Management LLC Purchases 243,902 Shares of Service Corporation International $SCI

Key Points

• AQR Capital Management LLC significantly increased its stake in Service Corporation International by 1,040.1%, purchasing an additional 243,902 shares in the first quarter, bringing its total ownership to 267,352 shares valued at approximately $21.18 million.
• The company reported earnings of $0.88 per share for the last quarter, exceeding analyst expectations of $0.84, with a revenue increase of 3.0% year-over-year to $1.07 billion.
• Service Corporation International announced a quarterly dividend of $0.32 per share, reflecting a 1.6% dividend yield, with the ex-dividend date set for September 15.

AQR Capital Management LLC lifted its position in Service Corporation International (NYSE:SCI - Free Report) by 1,040.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,352 shares of the company's stock after purchasing an additional 243,902 shares during the quarter. AQR Capital Management LLC owned 0.19% of Service Corporation International worth $21,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCI. Assetmark Inc. boosted its holdings in shares of Service Corporation International by 225.9% in the 1st quarter. Assetmark Inc. now owns 352 shares of the company's stock worth $28,000 after purchasing an additional 244 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Service Corporation International by 87.2% in the 1st quarter. IFP Advisors Inc now owns 700 shares of the company's stock worth $60,000 after purchasing an additional 326 shares in the last quarter. State of Wyoming purchased a new position in shares of Service Corporation International in the 1st quarter worth about $63,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Service Corporation International in the 1st quarter worth about $85,000. Finally, Quarry LP boosted its holdings in shares of Service Corporation International by 127.3% in the 1st quarter. Quarry LP now owns 1,066 shares of the company's stock worth $85,000 after purchasing an additional 597 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a report on Monday, August 4th. Oppenheimer increased their target price on Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $90.25.

Service Corporation International Trading Down 1.0%

SCI stock traded down $0.81 during trading on Friday, hitting $80.10. 671,931 shares of the company traded hands, compared to its average volume of 815,304. The firm has a market capitalization of $11.23 billion, a PE ratio of 21.71, a P/E/G ratio of 1.97 and a beta of 0.90. Service Corporation International has a 1 year low of $71.75 and a 1 year high of $89.37. The company has a 50-day moving average of $79.31 and a 200-day moving average of $78.80. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 0.61.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.04. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.05 billion. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%.Service Corporation International's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 EPS. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. Analysts predict that Service Corporation International will post 3.84 earnings per share for the current fiscal year.

Service Corporation International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.6%. Service Corporation International's dividend payout ratio is presently 34.69%.

Insiders Place Their Bets

In other Service Corporation International news, Director Tony Coelho sold 7,850 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $80.60, for a total transaction of $632,710.00. Following the completion of the transaction, the director owned 36,088 shares of the company's stock, valued at $2,908,692.80. This represents a 17.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ellen Ochoa sold 2,514 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $79.41, for a total value of $199,636.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,082 shares of company stock worth $20,117,233. 4.40% of the stock is currently owned by company insiders.

Service Corporation International Profile

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.