Bank of New York Mellon Corp Sells 17,978 Shares of Service Corporation International $SCI

Key Points

• Bank of New York Mellon reduced its stake in Service Corporation International by 1.5% in the first quarter, selling 17,978 shares and leaving it with 1,150,461 shares worth about $94.9 million.
• Analyst sentiment was mixed: while some firms cut ratings or price targets, the stock still carries a consensus Moderate Buy with a $95 average price target.
• SCI reported quarterly earnings and revenue below expectations in its latest results, but the company also raised its dividend to $0.36 per share, or $1.44 annually, for a 1.8% yield.

Bank of New York Mellon Corp trimmed its stake in shares of Service Corporation International (NYSE:SCI - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,150,461 shares of the company's stock after selling 17,978 shares during the quarter. Bank of New York Mellon Corp owned 0.83% of Service Corporation International worth $94,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Advisors Preferred LLC boosted its stake in Service Corporation International by 81.0% in the 1st quarter. Advisors Preferred LLC now owns 6,579 shares of the company's stock valued at $543,000 after buying an additional 2,945 shares in the last quarter. Root Financial Partners LLC raised its stake in Service Corporation International by 35.7% during the first quarter. Root Financial Partners LLC now owns 612 shares of the company's stock worth $50,000 after acquiring an additional 161 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Service Corporation International by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,872 shares of the company's stock worth $402,000 after acquiring an additional 210 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Service Corporation International by 76.7% during the first quarter. SG Americas Securities LLC now owns 22,932 shares of the company's stock valued at $1,892,000 after acquiring an additional 9,956 shares during the period. Finally, Toronto Dominion Bank acquired a new stake in shares of Service Corporation International in the 4th quarter valued at $238,000. 85.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SCI has been the topic of several analyst reports. Weiss Ratings lowered shares of Service Corporation International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 3rd. Wall Street Zen downgraded shares of Service Corporation International from a "hold" rating to a "sell" rating in a report on Sunday, June 28th. UBS Group reduced their price target on shares of Service Corporation International from $95.00 to $93.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of Service Corporation International from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Finally, Oppenheimer raised their price objective on shares of Service Corporation International from $94.00 to $97.00 and gave the stock an "outperform" rating in a report on Thursday, April 2nd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.00.

Service Corporation International Trading Down 1.0%

Shares of SCI opened at $77.95 on Tuesday. The stock has a fifty day moving average price of $75.70 and a two-hundred day moving average price of $79.32. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.52 and a current ratio of 0.57. Service Corporation International has a 52-week low of $68.41 and a 52-week high of $88.67. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.77 and a beta of 0.84.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.03). Service Corporation International had a return on equity of 34.30% and a net margin of 12.36%.The business had revenue of $544.80 million for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.96 EPS. Service Corporation International's revenue for the quarter was up 2.1% on a year-over-year basis. Service Corporation International has set its FY 2026 guidance at 4.050-4.350 EPS. Analysts predict that Service Corporation International will post 4.14 EPS for the current fiscal year.

Service Corporation International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. This is an increase from Service Corporation International's previous quarterly dividend of $0.34. Service Corporation International's payout ratio is currently 37.99%.

About Service Corporation International

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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