Quantbot Technologies LP Acquires New Position in Service Corporation International $SCI

Key Points

• Quantbot Technologies LP invested approximately $1.38 million in Service Corporation International (SCI) by acquiring 17,192 shares in the first quarter.
• Service Corporation International reported $0.88 EPS for the latest quarter, surpassing analysts' expectations, with revenue of $1.07 billion and a year-over-year revenue increase of 3%.
• Institutional investors own 85.53% of Service Corporation International's stock, indicating significant confidence in the company's performance.

Quantbot Technologies LP acquired a new position in shares of Service Corporation International (NYSE:SCI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,192 shares of the company's stock, valued at approximately $1,379,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. lifted its stake in Service Corporation International by 225.9% during the first quarter. Assetmark Inc. now owns 352 shares of the company's stock worth $28,000 after purchasing an additional 244 shares during the last quarter. Quarry LP raised its holdings in Service Corporation International by 359.8% during the fourth quarter. Quarry LP now owns 469 shares of the company's stock worth $37,000 after purchasing an additional 367 shares in the last quarter. GeoWealth Management LLC purchased a new stake in shares of Service Corporation International during the 4th quarter worth approximately $53,000. IFP Advisors Inc lifted its position in shares of Service Corporation International by 87.2% during the 1st quarter. IFP Advisors Inc now owns 700 shares of the company's stock worth $60,000 after buying an additional 326 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Service Corporation International in the 1st quarter valued at $85,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Insider Buying and Selling

In other news, Director Tony Coelho sold 7,850 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 36,088 shares of the company's stock, valued at approximately $2,908,692.80. The trade was a 17.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas L. Ryan sold 150,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $80.49, for a total value of $12,073,500.00. Following the sale, the chief executive officer owned 982,333 shares of the company's stock, valued at $79,067,983.17. This trade represents a 13.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,073 shares of company stock valued at $20,116,529. Company insiders own 4.40% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SCI shares. UBS Group cut 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. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 price objective (up previously from $85.00) on shares of Service Corporation International in a report on Monday, August 4th. Finally, Oppenheimer lifted 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. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $90.25.

Service Corporation International Stock Performance

Service Corporation International stock traded down $1.03 during midday trading on Thursday, hitting $78.73. 256,081 shares of the company's stock were exchanged, compared to its average volume of 1,143,732. 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 stock has a market cap of $11.04 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 1.93 and a beta of 0.90. Service Corporation International has a 12-month low of $71.75 and a 12-month high of $89.37. The firm's 50 day simple moving average is $79.73 and its 200 day simple moving average is $78.77.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.04. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The business'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. Equities research analysts predict that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.32 dividend. 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 dividend payout ratio (DPR) is 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.