Millennium Management LLC Purchases 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 increased its stake in Service Corporation International (NYSE:SCI - Free Report) by 23.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 410,038 shares of the company's stock after buying an additional 76,881 shares during the quarter. Millennium Management LLC owned about 0.29% of Service Corporation International worth $32,885,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Principal Financial Group Inc. grew its stake in Service Corporation International by 136.1% during the 1st quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock valued at $62,751,000 after purchasing an additional 451,068 shares in the last quarter. Nuveen LLC acquired a new stake in Service Corporation International during the 1st quarter valued at approximately $26,674,000. Jennison Associates LLC grew its stake in Service Corporation International by 3,061.2% during the 1st quarter. Jennison Associates LLC now owns 297,404 shares of the company's stock valued at $23,852,000 after purchasing an additional 287,996 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in Service Corporation International by 250.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 373,398 shares of the company's stock valued at $29,805,000 after purchasing an additional 266,712 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Service Corporation International by 1,040.1% during the 1st quarter. AQR Capital Management LLC now owns 267,352 shares of the company's stock valued at $21,180,000 after purchasing an additional 243,902 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SCI. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 target price (up previously from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Oppenheimer raised their price target on Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Service Corporation International has an average rating of "Buy" and an average price target of $90.25.

Insider Buying and Selling

In other news, Director Tony Coelho sold 7,850 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $80.60, for a total transaction of $632,710.00. Following the sale, the director owned 36,088 shares of the company's stock, valued at $2,908,692.80. This trade represents a 17.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Sumner J. Waring III sold 56,100 shares of the 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 owned 295,192 shares of the company's stock, valued at approximately $22,602,851.44. The trade was a 15.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 252,082 shares of company stock valued at $20,117,233. 4.40% of the stock is currently owned by insiders.

Service Corporation International Price Performance

Shares of Service Corporation International stock traded down $0.81 during trading on Friday, hitting $80.10. The stock had a trading volume of 671,931 shares, compared to its average volume of 815,304. 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 firm has a market cap of $11.23 billion, a P/E ratio of 21.71, a PEG ratio of 1.97 and a beta of 0.90. The business has a fifty day moving average of $79.31 and a two-hundred day moving average of $78.80. Service Corporation International has a fifty-two week low of $71.75 and a fifty-two week high of $89.37.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly 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 business 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. Service Corporation International'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. On average, sell-side analysts expect that Service Corporation International will post 3.84 earnings per share 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. 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 is Monday, September 15th. Service Corporation International's dividend payout ratio 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.