Service Corporation International $SCI Stock Holdings Lowered by Select Equity Group L.P.

Key Points

• Select Equity Group L.P. decreased its stake in Service Corporation International by 15.5%, reducing ownership to approximately 4.93%, worth $562.6 million.
• Recently, several institutional investors, including Tranquility Partners LLC and Fifth Third Bancorp, increased their positions in Service Corporation International during the 1st quarter.
• Service Corporation International announced a quarterly dividend of $0.32 per share, with an ex-dividend date of September 15th, reflecting a yield of 1.6%.

Select Equity Group L.P. lessened its position in shares of Service Corporation International (NYSE:SCI - Free Report) by 15.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,015,048 shares of the company's stock after selling 1,286,850 shares during the quarter. Service Corporation International makes up about 2.4% of Select Equity Group L.P.'s holdings, making the stock its 13th largest position. Select Equity Group L.P. owned about 4.93% of Service Corporation International worth $562,607,000 at the end of the most recent quarter.

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

Service Corporation International Trading Down 1.1%

Service Corporation International stock traded down $0.89 during midday trading on Friday, reaching $80.02. The stock had a trading volume of 198,589 shares, compared to its average volume of 1,129,657. Service Corporation International has a twelve month low of $71.75 and a twelve month high of $89.37. The stock has a market capitalization of $11.22 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.90 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. The stock's 50-day simple moving average is $79.35 and its 200 day simple moving average is $78.82.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its earnings results 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 firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter last year, the firm 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. Analysts expect that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. Service Corporation International's dividend payout ratio is presently 34.69%.

Insider Activity

In other Service Corporation International news, President Sumner J. Waring III sold 56,100 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $22,602,851.44. This represents a 15.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tony Coelho sold 7,850 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $80.60, for a total transaction of $632,710.00. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 252,082 shares of company stock valued at $20,117,233. Corporate insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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 research note on Monday, August 4th. Oppenheimer increased their price objective on Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Service Corporation International currently has a consensus rating of "Buy" and a consensus price target of $90.25.

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.