Millennium Management LLC Acquires 76,881 Shares of Service Corporation International $SCI

Key Points

• Millennium Management LLC increased its stake in Service Corporation International by 23.1%, holding approximately 410,038 shares worth about $32.9 million as of its latest SEC filing.
• Service Corporation International's stock received an "outperform" rating from analysts with price targets ranging from $90 to $91, indicating expected growth.
• The company reported an EPS of $0.88 for the last quarter, exceeding analysts' expectations, alongside a 3.0% increase in quarterly revenue year-over-year.

Millennium Management LLC boosted its stake in shares of Service Corporation International (NYSE:SCI - Free Report) by 23.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 410,038 shares of the company's stock after acquiring an additional 76,881 shares during the quarter. Millennium Management LLC owned approximately 0.29% of Service Corporation International worth $32,885,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. boosted 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 valued at $28,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc boosted 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 valued at $60,000 after purchasing an additional 326 shares during the last quarter. State of Wyoming bought a new position in shares of Service Corporation International in the 1st quarter valued at about $63,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Service Corporation International in the 1st quarter valued at about $85,000. Finally, Quarry LP boosted 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 valued at $85,000 after purchasing an additional 597 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Analyst Upgrades and Downgrades

SCI has been the topic of several recent research reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $90.00 target price (up previously from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. Oppenheimer increased their price target on shares of Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $90.25.

Insider Activity at Service Corporation International

In other Service Corporation International 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 transaction of $4,295,577.00. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas L. Ryan sold 17,520 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $81.91, for a total transaction of $1,435,063.20. Following the sale, the chief executive officer owned 982,333 shares in the company, valued at $80,462,896.03. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 252,082 shares of company stock valued at $20,117,233. Corporate insiders own 4.40% of the company's stock.

Service Corporation International Trading Up 0.1%

Shares of NYSE SCI traded up $0.05 during midday trading on Tuesday, reaching $79.76. 1,180,303 shares of the stock were exchanged, compared to its average volume of 823,812. The company has a debt-to-equity ratio of 3.19, a current ratio of 0.61 and a quick ratio of 0.56. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 1.94 and a beta of 0.90. The business has a 50-day simple moving average of $79.22 and a two-hundred day simple moving average of $78.79. Service Corporation International has a 12 month low of $71.75 and a 12 month high of $89.37.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.84 by $0.04. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. As a group, equities research analysts expect 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 issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, September 15th. Service Corporation International's dividend payout ratio (DPR) is 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.