Clough Capital Partners L P Acquires 6,445 Shares of Service Corporation International $SCI

Key Points

• Clough Capital Partners L P significantly increased its stake in Service Corporation International by 52.7%, owning a total of 18,685 shares valued at approximately $1.5 million after acquiring additional shares in Q1 2023.
• Service Corporation International reported $0.88 earnings per share in its latest quarterly results, surpassing analysts' expectations of $0.84 and showing a 3.0% year-over-year revenue growth to $1.07 billion.
• The company recently declared a quarterly dividend of $0.32, with a yield of 1.6%, set to be paid out on September 30th to investors of record on September 15th.

Clough Capital Partners L P grew its holdings in shares of Service Corporation International (NYSE:SCI - Free Report) by 52.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,685 shares of the company's stock after buying an additional 6,445 shares during the period. Clough Capital Partners L P's holdings in Service Corporation International were worth $1,499,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SCI. Assetmark Inc. grew its position in Service Corporation International by 225.9% during the 1st quarter. Assetmark Inc. now owns 352 shares of the company's stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. Quarry LP lifted its stake in Service Corporation International by 359.8% during the 4th quarter. Quarry LP now owns 469 shares of the company's stock valued at $37,000 after acquiring an additional 367 shares during the period. IFP Advisors Inc lifted its stake in Service Corporation International by 87.2% during the 1st quarter. IFP Advisors Inc now owns 700 shares of the company's stock valued at $60,000 after acquiring an additional 326 shares during the period. State of Wyoming bought a new position in Service Corporation International during the 1st quarter valued at about $63,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Service Corporation International during the 1st quarter valued at about $85,000. Institutional investors own 85.53% of the company's stock.

Analyst Ratings Changes

SCI has been the topic of several research analyst reports. Raymond James Financial restated an "outperform" rating and set a $90.00 target price (up previously from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. Oppenheimer increased their price objective on shares of Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $90.25.

Insider Activity at Service Corporation International

In related news, Director Ellen Ochoa sold 2,514 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $79.41, for a total value of $199,636.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas L. Ryan sold 17,520 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $81.91, for a total value of $1,435,063.20. Following the completion of the sale, the chief executive officer owned 982,333 shares of the company's stock, valued at approximately $80,462,896.03. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 252,073 shares of company stock valued at $20,116,529. Corporate insiders own 4.40% of the company's stock.

Service Corporation International Stock Performance

Service Corporation International stock traded down $1.21 during midday trading on Tuesday, hitting $78.04. The stock had a trading volume of 727,665 shares, compared to its average volume of 1,143,121. The firm's fifty day moving average is $79.75 and its two-hundred day moving average is $78.82. The company has a market capitalization of $10.94 billion, a PE ratio of 21.15, a P/E/G ratio of 1.93 and a beta of 0.90. Service Corporation International has a 52-week low of $71.75 and a 52-week high of $89.37. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.19.

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

Service Corporation International Dividend Announcement

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

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.