Kayne Anderson Rudnick Investment Management LLC Reduces Stock Position in Service Corporation International $SCI

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its position in Service Corporation International by 28.0%, selling 7,353 shares and leaving them with 18,873 shares valued at approximately $1.5 million.
• In recent insider trading, CEO Thomas L. Ryan sold 17,520 shares worth over $1.4 million, while a board member also reduced their shareholding, indicating potential shifts in insider confidence.
• Service Corporation International reported earnings of $0.88 per share for the last quarter, exceeding analyst expectations and indicating a 3.0% increase in quarterly revenue year-over-year.

Kayne Anderson Rudnick Investment Management LLC lessened its stake in Service Corporation International (NYSE:SCI - Free Report) by 28.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,873 shares of the company's stock after selling 7,353 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Service Corporation International were worth $1,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SCI. GAMMA Investing LLC raised its holdings in Service Corporation International by 20.3% in the 1st quarter. GAMMA Investing LLC now owns 2,539 shares of the company's stock worth $204,000 after purchasing an additional 429 shares during the period. SG Americas Securities LLC acquired a new position in Service Corporation International in the 1st quarter worth about $869,000. Principal Financial Group Inc. raised its holdings in Service Corporation International by 136.1% in the 1st quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock worth $62,751,000 after purchasing an additional 451,068 shares during the period. Teacher Retirement System of Texas raised its holdings in Service Corporation International by 12.6% in the 1st quarter. Teacher Retirement System of Texas now owns 31,019 shares of the company's stock worth $2,488,000 after purchasing an additional 3,473 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in Service Corporation International by 7.4% in the 1st quarter. Ritholtz Wealth Management now owns 9,966 shares of the company's stock worth $799,000 after purchasing an additional 689 shares during the period. Institutional investors and hedge funds own 85.53% of the company's stock.

Service Corporation International Price Performance

NYSE:SCI traded up $0.33 during trading hours on Monday, hitting $79.26. 947,790 shares of the stock were exchanged, compared to its average volume of 848,128. Service Corporation International has a 52-week low of $71.75 and a 52-week high of $89.37. The firm's fifty day moving average price is $79.76 and its 200 day moving average price is $78.80. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.19. The company has a market cap of $11.11 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.93 and a beta of 0.90.

Service Corporation International (NYSE:SCI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.88 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $0.79 EPS. Service Corporation International's quarterly revenue was up 3.0% on a year-over-year basis. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. As a group, equities research analysts anticipate that Service Corporation International will post 3.84 EPS for the current fiscal 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 paid 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 payout ratio is 34.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $90.00 price target (up previously from $85.00) on shares of Service Corporation International in a report on Monday, August 4th. Oppenheimer upped 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 equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $90.25.

Insider Transactions at Service Corporation International

In other news, Director Tony Coelho sold 7,850 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $80.60, for a total value of $632,710.00. Following the completion of the sale, the director directly owned 36,088 shares in the company, valued at $2,908,692.80. This represents a 17.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ellen Ochoa sold 2,514 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $79.41, for a total value of $199,636.74. The disclosure for this sale can be found here. Insiders have sold a total of 252,073 shares of company stock valued at $20,116,529 in the last 90 days. Corporate insiders own 4.40% of the company's stock.

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.