T. Rowe Price Investment Management Inc. decreased its position in Service Corporation International (NYSE:SCI - Free Report) by 64.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,166,637 shares of the company's stock after selling 5,785,999 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.22% of Service Corporation International worth $253,965,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Assetmark Inc. raised its holdings in Service Corporation International by 225.9% during the 1st quarter. Assetmark Inc. now owns 352 shares of the company's stock valued at $28,000 after acquiring an additional 244 shares during the period. Quarry LP grew its stake in shares of Service Corporation International by 359.8% in the fourth quarter. Quarry LP now owns 469 shares of the company's stock worth $37,000 after purchasing an additional 367 shares during the last quarter. GeoWealth Management LLC bought a new stake in Service Corporation International during the 4th quarter valued at approximately $53,000. IFP Advisors Inc boosted its position 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 worth $60,000 after purchasing an additional 326 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Service Corporation International in the 1st quarter worth approximately $85,000. Hedge funds and other institutional investors own 85.53% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on SCI. UBS Group decreased their target price on shares of Service Corporation International from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Oppenheimer upped their target price on shares of Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Finally, Raymond James Financial reissued an "outperform" rating and set a $90.00 price objective (up previously from $85.00) on shares of Service Corporation International in a report on Monday, August 4th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Service Corporation International has a consensus rating of "Buy" and a consensus target price of $90.25.
Read Our Latest Research Report on Service Corporation International
Insider Transactions at Service Corporation International
In other news, CEO Thomas L. Ryan sold 150,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $80.49, for a total transaction of $12,073,500.00. Following the transaction, the chief executive officer directly owned 982,333 shares in the company, valued at approximately $79,067,983.17. This trade represents a 13.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tony Coelho sold 7,850 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $80.60, for a total transaction of $632,710.00. Following the transaction, the director owned 36,088 shares in the company, valued at approximately $2,908,692.80. This represents a 17.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,559 shares of company stock valued at $19,916,892. 4.40% of the stock is currently owned by company insiders.
Service Corporation International Trading Down 0.6%
Service Corporation International stock traded down $0.50 during midday trading on Tuesday, reaching $79.41. The stock had a trading volume of 286,997 shares, compared to its average volume of 1,146,407. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 3.19. Service Corporation International has a 52-week low of $71.75 and a 52-week high of $89.37. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.98 and a beta of 0.90. The company has a fifty day moving average of $79.66 and a 200 day moving average of $78.75.
Service Corporation International (NYSE:SCI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.04. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last 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, 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given 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 dividend yield of 1.6%. Service Corporation International's dividend payout ratio (DPR) is 34.69%.
About Service Corporation International
(
Free Report)
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.
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