19,263 Shares in Service Corporation International $SCI Purchased by Strs Ohio

Key Points

• Strs Ohio invested approximately $1.55 million in Service Corporation International (NYSE: SCI), acquiring 19,263 shares in the first quarter.
• Analyst ratings have improved, with Oppenheimer raising its target price from $86.00 to $91.00 and Raymond James increasing theirs from $85.00 to $90.00, indicating a positive outlook on the stock.
• Service Corporation International reported a quarterly earnings per share of $0.88, exceeding analysts' expectations and reflecting a 3.0% increase in revenue compared to the previous year.

Strs Ohio bought a new stake in Service Corporation International (NYSE:SCI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,263 shares of the company's stock, valued at approximately $1,545,000.

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in shares of Service Corporation International by 23.6% in the 1st quarter. Acadian Asset Management LLC now owns 14,208 shares of the company's stock worth $1,137,000 after acquiring an additional 2,715 shares during the last quarter. Focus Partners Wealth grew its holdings in Service Corporation International by 3.1% during the 1st quarter. Focus Partners Wealth now owns 10,571 shares of the company's stock valued at $848,000 after buying an additional 321 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Service Corporation International in the first quarter valued at $123,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Service Corporation International by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,978 shares of the company's stock worth $51,647,000 after purchasing an additional 15,967 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Service Corporation International by 11.2% in the first quarter. Empowered Funds LLC now owns 41,580 shares of the company's stock valued at $3,335,000 after purchasing an additional 4,174 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Insider Activity at Service Corporation International

In other news, Director Tony Coelho sold 7,850 shares of the business'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 transaction, the director owned 36,088 shares in the company, valued at $2,908,692.80. The trade was a 17.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ellen Ochoa sold 2,514 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was 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 sold 252,082 shares of company stock worth $20,117,233 over the last quarter. Company insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SCI. Oppenheimer upped their target price on Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Raymond James Financial reissued an "outperform" rating and set a $90.00 target price (up previously from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $90.25.

Service Corporation International Stock Down 0.8%

Shares of SCI stock traded down $0.65 on Friday, reaching $79.89. 883,481 shares of the company's stock traded hands, compared to its average volume of 1,125,793. Service Corporation International has a 12-month low of $71.75 and a 12-month high of $89.37. The business's 50 day moving average price is $79.18 and its two-hundred day moving average price is $78.80. The company has a market capitalization of $11.20 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 1.94 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 issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.04. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%.The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. On average, equities analysts forecast that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Announces Dividend

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

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.