M&T Bank Corp Has $1.28 Million Holdings in Service Corporation International (NYSE:SCI)

M&T Bank Corp lifted its holdings in shares of Service Corporation International (NYSE:SCI - Free Report) by 28.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,999 shares of the company's stock after purchasing an additional 3,565 shares during the period. M&T Bank Corp's holdings in Service Corporation International were worth $1,284,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SCI. Capital Investment Advisory Services LLC bought a new position in Service Corporation International during the first quarter worth $549,000. Palisade Capital Management LP raised its stake in Service Corporation International by 3.8% during the first quarter. Palisade Capital Management LP now owns 40,660 shares of the company's stock worth $3,261,000 after buying an additional 1,484 shares during the last quarter. Principal Financial Group Inc. increased its stake in Service Corporation International by 136.1% in the first quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock valued at $62,751,000 after purchasing an additional 451,068 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Service Corporation International by 12.6% in the first quarter. Teacher Retirement System of Texas now owns 31,019 shares of the company's stock valued at $2,488,000 after purchasing an additional 3,473 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in Service Corporation International by 22.1% in the first quarter. DAVENPORT & Co LLC now owns 6,497 shares of the company's stock valued at $521,000 after purchasing an additional 1,178 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Insiders Place Their Bets

In related news, Director Tony Coelho sold 5,400 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $75.94, for a total transaction of $410,076.00. Following the sale, the director owned 43,938 shares of the company's stock, valued at approximately $3,336,651.72. This represents a 10.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group decreased their price target on shares of Service Corporation International from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wall Street Zen raised shares of Service Corporation International from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $89.25.

Service Corporation International Stock Up 0.0%

SCI opened at $80.78 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.51 and a debt-to-equity ratio of 2.87. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.99 and a beta of 0.92. Service Corporation International has a twelve month low of $70.46 and a twelve month high of $89.37. The company's 50-day moving average price is $78.69 and its two-hundred day moving average price is $78.53.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.06 billion. Service Corporation International had a net margin of 12.58% and a return on equity of 32.35%. Service Corporation International's revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 EPS. As a group, equities analysts expect that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, June 13th. Service Corporation International's dividend payout ratio (DPR) is presently 35.16%.

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.

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