First Manhattan CO. LLC. Has $96.71 Million Position in Service Corporation International $SCI

Key Points

• First Manhattan CO. LLC reduced its holdings in Service Corporation International by 0.9%, selling 11,473 shares but still retains about 1.2 million shares valued at approximately $96.7 million.
• Service Corporation International recently exceeded earnings estimates, reporting $0.88 earnings per share and $1.07 billion in revenue for the last quarter, with a net margin of 12.6%.
• The company announced a quarterly dividend of $0.32 per share, with a yield of 1.6%, set to be paid to investors on September 30th.

First Manhattan CO. LLC. lessened its holdings in shares of Service Corporation International (NYSE:SCI - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,205,881 shares of the company's stock after selling 11,473 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.85% of Service Corporation International worth $96,712,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SCI. Brighton Jones LLC bought a new stake in shares of Service Corporation International in the 4th quarter valued at approximately $435,000. Hsbc Holdings PLC grew its stake in shares of Service Corporation International by 38.1% in the 4th quarter. Hsbc Holdings PLC now owns 11,238 shares of the company's stock valued at $898,000 after buying an additional 3,098 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Service Corporation International in the 4th quarter valued at approximately $240,000. Quarry LP grew its stake in shares of Service Corporation International by 359.8% in the 4th quarter. Quarry LP now owns 469 shares of the company's stock valued at $37,000 after buying an additional 367 shares in the last quarter. Finally, Lido Advisors LLC grew its stake in shares of Service Corporation International by 12.9% in the 4th quarter. Lido Advisors LLC now owns 3,856 shares of the company's stock valued at $308,000 after buying an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SCI shares. Oppenheimer upped their target price on Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 target price (up previously from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Service Corporation International has an average rating of "Buy" and an average target price of $90.25.

Insider Transactions at Service Corporation International

In related news, Director Tony Coelho sold 7,850 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $80.60, for a total value of $632,710.00. Following the completion of the transaction, the director directly owned 36,088 shares in the company, valued at approximately $2,908,692.80. This represents a 17.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Sumner J. Waring III sold 56,100 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $76.57, for a total value of $4,295,577.00. Following the completion of the transaction, the president owned 295,192 shares of the company's stock, valued at $22,602,851.44. The trade was a 15.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 252,073 shares of company stock valued at $20,116,529. Company insiders own 4.40% of the company's stock.

Service Corporation International Stock Performance

Shares of SCI stock traded down $0.99 during trading hours on Friday, reaching $77.62. 958,459 shares of the company's stock were exchanged, compared to its average volume of 777,678. Service Corporation International has a fifty-two week low of $71.75 and a fifty-two week high of $89.37. The stock has a market capitalization of $10.89 billion, a P/E ratio of 21.04, a P/E/G ratio of 1.91 and a beta of 0.90. The business has a fifty day moving average price of $79.55 and a 200-day moving average price of $78.81. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 3.19.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.04. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%.The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The company's quarterly revenue was up 3.0% compared to the same quarter last year. 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 EPS for the current fiscal year.

Service Corporation International Announces Dividend

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