Bank of New York Mellon Corp Cuts Holdings in Service Corporation International (NYSE:SCI)

Bank of New York Mellon Corp reduced its position in Service Corporation International (NYSE:SCI - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,421,063 shares of the company's stock after selling 38,314 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of Service Corporation International worth $113,969,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SCI. Tranquility Partners LLC boosted its position in Service Corporation International by 1.7% during the first quarter. Tranquility Partners LLC now owns 8,060 shares of the company's stock valued at $646,000 after acquiring an additional 134 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Service Corporation International by 12.2% in the 1st quarter. Fifth Third Bancorp now owns 1,426 shares of the company's stock valued at $114,000 after purchasing an additional 155 shares during the period. Brighton Jones LLC boosted its position in shares of Service Corporation International by 3.1% during the 1st quarter. Brighton Jones LLC now owns 5,615 shares of the company's stock valued at $450,000 after purchasing an additional 167 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Service Corporation International by 5.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,729 shares of the company's stock worth $298,000 after buying an additional 183 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Service Corporation International by 5.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,438 shares of the company's stock valued at $354,000 after acquiring an additional 212 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group cut their target price on shares of Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen raised shares of Service Corporation International from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Service Corporation International presently has a consensus rating of "Moderate Buy" and an average target price of $89.25.

Service Corporation International Stock Down 1.1%

Shares of NYSE:SCI traded down $0.90 during trading on Thursday, reaching $80.76. 851,299 shares of the stock were exchanged, compared to its average volume of 1,061,356. Service Corporation International has a 1-year low of $68.84 and a 1-year high of $89.37. The stock has a fifty day moving average of $78.52 and a two-hundred day moving average of $78.56. The company has a debt-to-equity ratio of 2.87, a current ratio of 0.51 and a quick ratio of 0.46. The firm has a market cap of $11.50 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.03 and a beta of 0.92.

Service Corporation International (NYSE:SCI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.05. Service Corporation International had a net margin of 12.58% and a return on equity of 32.35%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The business's revenue was up 2.8% on a year-over-year basis. Research analysts anticipate that Service Corporation International will post 3.84 earnings per share for the current fiscal year.

Service Corporation International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.28 annualized dividend and a yield of 1.58%. Service Corporation International's payout ratio is 35.16%.

Insider Transactions at Service Corporation International

In other Service Corporation International news, Director Tony Coelho sold 5,400 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $75.94, for a total transaction of $410,076.00. Following the completion of the sale, the director directly owned 43,938 shares of the company's stock, valued at approximately $3,336,651.72. The trade was a 10.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company's stock.

Service Corporation International Company 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.