9,000 Shares in Service Corporation International $SCI Acquired by Sciencast Management LP

Key Points

• Sciencast Management LP has made a new investment in Service Corporation International (SCI) by acquiring 9,000 shares valued at approximately $722,000 during the first quarter.
• Multiple institutional investors have significantly increased their stakes in SCI, with 85.53% of the stock currently owned by institutional investors and hedge funds.
• SCI's stock has received an "outperform" rating from analysts with a recent price target increase to $91.00, and the company reported a quarterly earnings per share (EPS) of $0.88, exceeding estimates.

Sciencast Management LP acquired a new position in Service Corporation International (NYSE:SCI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,000 shares of the company's stock, valued at approximately $722,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. raised its stake in shares of Service Corporation International by 225.9% in the 1st quarter. Assetmark Inc. now owns 352 shares of the company's stock worth $28,000 after buying an additional 244 shares in the last quarter. IFP Advisors Inc raised its stake in shares of 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 buying an additional 326 shares in the last quarter. State of Wyoming bought a new stake in shares of Service Corporation International in the 1st quarter worth $63,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Service Corporation International in the 1st quarter worth $85,000. Finally, Quarry LP raised its stake in shares of Service Corporation International by 127.3% in the 1st quarter. Quarry LP now owns 1,066 shares of the company's stock worth $85,000 after buying an additional 597 shares in the last quarter. Institutional investors own 85.53% of the company's stock.

Insiders Place Their Bets

In related news, CEO Thomas L. Ryan sold 150,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $80.49, for a total transaction of $12,073,500.00. Following the completion of the transaction, the chief executive officer owned 982,333 shares of the company's stock, valued at approximately $79,067,983.17. The trade was a 13.25% decrease in their position. The transaction was disclosed in a document filed 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 transaction, the president directly owned 295,192 shares of the company's stock, valued at $22,602,851.44. This represents a 15.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 252,082 shares of company stock worth $20,117,233 over the last quarter. 4.40% of the stock is currently owned by company insiders.

Service Corporation International Stock Down 1.0%

NYSE SCI traded down $0.81 on Friday, reaching $80.10. The stock had a trading volume of 671,931 shares, compared to its average volume of 815,304. The business has a 50 day moving average price of $79.31 and a 200 day moving average price of $78.81. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.19. Service Corporation International has a 1 year low of $71.75 and a 1 year high of $89.37. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 1.97 and a beta of 0.90.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.88 EPS 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 firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $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. On average, analysts forecast that Service Corporation International will post 3.84 EPS for the current fiscal year.

Service Corporation International Dividend Announcement

The firm 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. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. Service Corporation International's payout ratio is currently 34.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SCI shares. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 target price (up from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Oppenheimer boosted 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $90.25.

Service Corporation International Company Profile

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.