Handelsbanken Fonder AB Sells 213,000 Shares of Service Corporation International $SCI

Key Points

• Handelsbanken Fonder AB cut its stake in Service Corporation International by 17.8% in the fourth quarter, selling 213,000 shares and ending with 986,848 shares valued at about $76.9 million.
• SCI reported mixed quarterly results: EPS of $0.97 missed estimates by $0.03, and revenue of $544.8 million was far below analyst expectations, though revenue still rose 2.1% year over year.
• The company raised its dividend to $0.36 per share from $0.34, and Wall Street remains generally positive with a consensus Buy rating and an average price target of $95.00.

Handelsbanken Fonder AB lowered its position in Service Corporation International (NYSE:SCI - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 986,848 shares of the company's stock after selling 213,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.70% of Service Corporation International worth $76,945,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in Service Corporation International by 48.7% in the first quarter. Goldman Sachs Group Inc. now owns 417,387 shares of the company's stock worth $33,474,000 after acquiring an additional 136,770 shares in the last quarter. Marshall Wace LLP grew its position in Service Corporation International by 31.8% in the third quarter. Marshall Wace LLP now owns 549,162 shares of the company's stock worth $45,701,000 after acquiring an additional 132,591 shares in the last quarter. 8 Knots Management LLC purchased a new position in Service Corporation International in the third quarter worth $6,996,000. Royal Bank of Canada grew its position in Service Corporation International by 38.8% in the first quarter. Royal Bank of Canada now owns 121,883 shares of the company's stock worth $9,775,000 after acquiring an additional 34,051 shares in the last quarter. Finally, BDF Gestion purchased a new position in Service Corporation International in the fourth quarter worth $2,339,000. Institutional investors own 85.53% of the company's stock.

Service Corporation International Stock Performance

NYSE SCI opened at $78.92 on Tuesday. The company has a 50-day simple moving average of $81.04 and a two-hundred day simple moving average of $80.46. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 3.22. Service Corporation International has a 12-month low of $74.99 and a 12-month high of $88.67. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.74 and a beta of 0.88.

Service Corporation International (NYSE:SCI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.03). Service Corporation International had a net margin of 12.36% and a return on equity of 34.30%. The business had revenue of $544.80 million for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the company earned $0.96 earnings per share. The business's quarterly revenue 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. On average, equities analysts forecast that Service Corporation International will post 4.14 EPS for the current year.

Service Corporation International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, June 15th. This is a positive change from Service Corporation International's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.8%. Service Corporation International's dividend payout ratio (DPR) is currently 35.88%.

Insider Transactions at Service Corporation International

In other Service Corporation International news, Director Tony Coelho sold 7,700 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $79.87, for a total transaction of $614,999.00. Following the completion of the sale, the director directly owned 28,388 shares in the company, valued at $2,267,349.56. This represents a 21.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SCI has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on shares of Service Corporation International from $110.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. UBS Group cut their target price on shares of Service Corporation International from $95.00 to $93.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Weiss Ratings lowered shares of Service Corporation International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 8th. Wall Street Zen lowered shares of Service Corporation International from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Finally, Oppenheimer upped their target price on shares of Service Corporation International from $94.00 to $97.00 and gave the stock an "outperform" rating in a research report on Thursday, April 2nd. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $95.00.

Service Corporation International Profile

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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