Invesco Ltd. Raises Stock Holdings in Service Corporation International $SCI

Key Points

• Invesco Ltd. increased its holdings in Service Corporation International by 46.5%, now owning approximately 381,307 shares valued at $30.58 million.
• Service Corporation International reported a quarterly EPS of $0.88, exceeding estimates and showing a 3.0% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.32 per share, reflecting a yield of 1.6% and a payout ratio of 34.69%.

Invesco Ltd. lifted its position in shares of Service Corporation International (NYSE:SCI - Free Report) by 46.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,307 shares of the company's stock after purchasing an additional 121,040 shares during the quarter. Invesco Ltd. owned 0.27% of Service Corporation International worth $30,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. grew its stake in shares of Service Corporation International by 225.9% during the 1st quarter. Assetmark Inc. now owns 352 shares of the company's stock worth $28,000 after purchasing an additional 244 shares during the period. Quarry LP increased its holdings in Service Corporation International by 359.8% in the 4th quarter. Quarry LP now owns 469 shares of the company's stock worth $37,000 after acquiring an additional 367 shares in the last quarter. GeoWealth Management LLC purchased a new stake in Service Corporation International in the 4th quarter worth $53,000. IFP Advisors Inc increased its holdings in Service Corporation International by 87.2% in the 1st quarter. IFP Advisors Inc now owns 700 shares of the company's stock worth $60,000 after acquiring an additional 326 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Service Corporation International by 12.2% in the 1st quarter. Fifth Third Bancorp now owns 1,426 shares of the company's stock worth $114,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SCI. UBS Group decreased their price target 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. Oppenheimer raised their price target on shares of Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $90.00 price target (up from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $90.25.

Insider Transactions at Service Corporation International

In related news, President Sumner J. Waring III sold 56,100 shares of the business's stock in a transaction dated 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 sale, the president directly owned 295,192 shares in the company, valued at approximately $22,602,851.44. The trade was a 15.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas L. Ryan sold 150,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $80.49, for a total transaction of $12,073,500.00. Following the completion of the sale, the chief executive officer owned 982,333 shares in the company, valued at approximately $79,067,983.17. This trade represents a 13.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,559 shares of company stock worth $19,916,892 in the last quarter. Company insiders own 4.40% of the company's stock.

Service Corporation International Trading Down 2.0%

Shares of NYSE SCI traded down $1.6560 during trading on Monday, hitting $79.8440. 855,007 shares of the company were exchanged, compared to its average volume of 999,035. Service Corporation International has a 12-month low of $71.75 and a 12-month high of $89.37. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 0.61. The company has a fifty day moving average price of $79.66 and a 200-day moving average price of $78.75. The firm has a market capitalization of $11.20 billion, a PE ratio of 21.64, a P/E/G ratio of 1.98 and a beta of 0.90.

Service Corporation International (NYSE:SCI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. 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. As a group, equities research analysts expect that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Dividend Announcement

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

About Service Corporation International

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.