Brant Point Investment Management LLC Raises Stock Position in Service Corporation International $SCI

Key Points

• Brant Point Investment Management LLC sharply increased its stake in Service Corporation International by 363.3% during the first quarter, owning a total of 46,329 shares worth approximately $3.7 million.
• Service Corporation International reported quarterly earnings of $0.88 per share, exceeding expectations, with a revenue of $1.07 billion, up 3.0% from the same quarter last year.
• The company declared a quarterly dividend of $0.32, translating to an annualized dividend of $1.28 with a yield of 1.6%, to be paid on September 30th.

Brant Point Investment Management LLC grew its holdings in Service Corporation International (NYSE:SCI - Free Report) by 363.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 46,329 shares of the company's stock after buying an additional 36,329 shares during the period. Brant Point Investment Management LLC's holdings in Service Corporation International were worth $3,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. raised its holdings in shares of Service Corporation International by 225.9% in the first quarter. Assetmark Inc. now owns 352 shares of the company's stock valued at $28,000 after buying an additional 244 shares during the last quarter. Quarry LP grew its position in Service Corporation International by 359.8% during the fourth quarter. Quarry LP now owns 469 shares of the company's stock worth $37,000 after buying an additional 367 shares during the period. IFP Advisors Inc grew its position in Service Corporation International by 87.2% during the first quarter. IFP Advisors Inc now owns 700 shares of the company's stock worth $60,000 after buying an additional 326 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Service Corporation International during the first quarter worth about $85,000. Finally, Fifth Third Bancorp grew its position in shares of Service Corporation International by 12.2% in the first quarter. Fifth Third Bancorp now owns 1,426 shares of the company's stock valued at $114,000 after purchasing an additional 155 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Service Corporation International

In other Service Corporation International news, Director Ellen Ochoa sold 2,514 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $79.41, for a total transaction of $199,636.74. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Sumner J. Waring III sold 56,100 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $76.57, for a total transaction of $4,295,577.00. Following the transaction, the president directly owned 295,192 shares in the company, valued at approximately $22,602,851.44. This represents a 15.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,073 shares of company stock worth $20,116,529. Company insiders own 4.40% of the company's stock.

Service Corporation International Trading Up 0.4%

NYSE SCI traded up $0.33 during mid-day trading on Monday, reaching $79.26. 947,790 shares of the stock were exchanged, compared to its average volume of 848,128. Service Corporation International has a 1-year low of $71.75 and a 1-year high of $89.37. The business's fifty day simple moving average is $79.76 and its 200 day simple moving average is $78.80. The stock has a market capitalization of $11.11 billion, a PE ratio of 21.48, a PEG ratio of 1.93 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.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business earned $0.79 earnings per share. Service Corporation International's 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, research analysts anticipate 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 paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.6%. Service Corporation International's dividend payout ratio (DPR) is currently 34.69%.

Wall Street Analyst Weigh In

SCI has been the topic of several research reports. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 price target (up from $85.00) on shares of Service Corporation International in a research report 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 investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Service Corporation International currently has an average rating of "Buy" and an average target price of $90.25.

About Service Corporation International

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.