Sciencast Management LP Invests $722,000 in Service Corporation International $SCI

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 bought a new position in shares of Service Corporation International (NYSE:SCI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,000 shares of the company's stock, valued at approximately $722,000.

Several other large investors have also bought and sold shares of the business. Deutsche Bank AG lifted its holdings in Service Corporation International by 0.9% in the first quarter. Deutsche Bank AG now owns 1,024,608 shares of the company's stock valued at $82,174,000 after buying an additional 9,342 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Service Corporation International by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 931,194 shares of the company's stock valued at $74,682,000 after acquiring an additional 10,972 shares during the period. Principal Financial Group Inc. grew its position in shares of Service Corporation International by 136.1% in the 1st quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock valued at $62,751,000 after acquiring an additional 451,068 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Service Corporation International by 0.3% during the 1st quarter. HighTower Advisors LLC now owns 777,936 shares of the company's stock worth $62,391,000 after buying an additional 2,316 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Service Corporation International by 2.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,011 shares of the company's stock valued at $50,128,000 after buying an additional 15,945 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Service Corporation International

In other news, President Sumner J. Waring III sold 56,100 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the president directly owned 295,192 shares in the company, valued at approximately $22,602,851.44. This trade represents a 15.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas L. Ryan sold 150,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 982,333 shares in the company, valued at $79,067,983.17. This represents a 13.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 252,082 shares of company stock worth $20,117,233 over the last ninety days. Company insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SCI. Oppenheimer upped their price objective on shares of Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Raymond James Financial reiterated an "outperform" rating and set a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $90.25.

Service Corporation International Trading Down 1.0%

Shares of NYSE:SCI traded down $0.81 during trading on Friday, reaching $80.10. The stock had a trading volume of 671,931 shares, compared to its average volume of 820,791. The firm's fifty day moving average is $79.31 and its 200 day moving average is $78.79. 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 has a 52 week low of $71.75 and a 52 week high of $89.37. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 1.95 and a beta of 0.90.

Service Corporation International (NYSE:SCI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company 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 earned $0.79 EPS. Service Corporation International'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 analysts forecast that Service Corporation International will post 3.84 EPS for the current fiscal year.

Service Corporation International Announces Dividend

The business also recently declared 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 is Monday, September 15th. This represents a $1.28 annualized dividend and a yield of 1.6%. Service Corporation International's dividend payout ratio is presently 34.69%.

Service Corporation International 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.