Northwest & Ethical Investments L.P. Reduces Stake in Service Corporation International $SCI

Key Points

• Northwest & Ethical Investments L.P. has reduced its stake in Service Corporation International by 42.4%, now holding 22,679 shares valued at approximately $1.82 million.
• Service Corporation International reported a $0.88 earnings per share for the last quarter, exceeding analysts' estimates, with a revenue of $1.07 billion.
• The company is announcing a quarterly dividend of $0.32 per share, which equates to an annual yield of 1.6%, with the ex-dividend date set for September 15.

Northwest & Ethical Investments L.P. decreased its holdings in Service Corporation International (NYSE:SCI - Free Report) by 42.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,679 shares of the company's stock after selling 16,663 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Service Corporation International were worth $1,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its stake in Service Corporation International by 5.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,952,636 shares of the company's stock worth $714,600,000 after purchasing an additional 492,822 shares during the period. Northern Trust Corp grew its position in shares of Service Corporation International by 24.9% during the 4th quarter. Northern Trust Corp now owns 1,650,384 shares of the company's stock worth $131,734,000 after buying an additional 328,686 shares in the last quarter. Deutsche Bank AG grew its position in shares of Service Corporation International by 0.9% during the 1st quarter. Deutsche Bank AG now owns 1,024,608 shares of the company's stock worth $82,174,000 after buying an additional 9,342 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Service Corporation International by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 931,194 shares of the company's stock worth $74,682,000 after buying an additional 10,972 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Service Corporation International by 136.1% during the 1st quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock worth $62,751,000 after buying an additional 451,068 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Activity at Service Corporation International

In other news, Director Tony Coelho sold 7,850 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $80.60, for a total transaction of $632,710.00. Following the sale, the director owned 36,088 shares in the company, valued at approximately $2,908,692.80. The trade was a 17.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Sumner J. Waring III sold 56,100 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $76.57, for a total value of $4,295,577.00. Following the sale, the president owned 295,192 shares in the company, valued at $22,602,851.44. The trade was a 15.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,950 shares of company stock valued at $17,001,787 over the last quarter. 4.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James Financial reissued an "outperform" rating and set a $90.00 price target (up previously from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Oppenheimer increased their price target on Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, UBS Group dropped their price target on Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $90.25.

Service Corporation International Stock Up 0.3%

SCI stock traded up $0.2350 during trading on Friday, reaching $81.4650. 771,902 shares of the company traded hands, 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 business has a 50 day simple moving average of $79.63 and a 200 day simple moving average of $78.73. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 1.98 and a beta of 0.90. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 0.61.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company earned $0.79 earnings per share. The firm's revenue for the quarter 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. On average, equities research analysts anticipate that Service Corporation International will post 3.84 earnings per share for the current fiscal year.

Service Corporation International Announces Dividend

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