XTX Topco Ltd Increases Stake in Service Corporation International (NYSE:SCI)

Key Points

• XTX Topco Ltd significantly increased its stake in Service Corporation International (SCI) by acquiring 34,853 shares, raising its holdings by 476.3% to a total of 42,170 shares valued at $3.38 million.
• In its latest earnings report, Service Corporation International posted $0.96 EPS, beating the consensus estimate of $0.91 and achieving a revenue of $1.07 billion, up 2.8% year-over-year.
• The company has announced a quarterly dividend of $0.32, representing an annualized yield of 1.68% and a payout ratio of 35.16%.

XTX Topco Ltd raised its position in Service Corporation International (NYSE:SCI - Free Report) by 476.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 42,170 shares of the company's stock after purchasing an additional 34,853 shares during the period. XTX Topco Ltd's holdings in Service Corporation International were worth $3,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tranquility Partners LLC raised its holdings in shares of Service Corporation International by 1.7% during the 1st quarter. Tranquility Partners LLC now owns 8,060 shares of the company's stock worth $646,000 after acquiring an additional 134 shares during the period. Proficio Capital Partners LLC increased its position in shares of Service Corporation International by 3.6% during the 1st quarter. Proficio Capital Partners LLC now owns 3,859 shares of the company's stock worth $309,000 after purchasing an additional 135 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Service Corporation International by 12.2% during the 1st quarter. Fifth Third Bancorp now owns 1,426 shares of the company's stock worth $114,000 after purchasing an additional 155 shares during the last quarter. Brighton Jones LLC increased its position in shares of Service Corporation International by 3.1% during the 1st quarter. Brighton Jones LLC now owns 5,615 shares of the company's stock worth $450,000 after purchasing an additional 167 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of Service Corporation International by 3.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,301 shares of the company's stock worth $425,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Service Corporation International Trading Down 0.6%

NYSE SCI traded down $0.43 during trading on Wednesday, hitting $75.67. The stock had a trading volume of 1,753,895 shares, compared to its average volume of 937,080. The company has a market capitalization of $10.77 billion, a PE ratio of 20.79, a PEG ratio of 1.88 and a beta of 0.92. The company has a quick ratio of 0.46, a current ratio of 0.51 and a debt-to-equity ratio of 2.87. The firm has a 50 day moving average price of $79.04 and a 200 day moving average price of $78.48. Service Corporation International has a twelve month low of $70.46 and a twelve month high of $89.37.

Service Corporation International (NYSE:SCI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.04. Service Corporation International had a return on equity of 32.35% and a net margin of 12.58%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. As a group, equities research analysts forecast that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, June 13th. Service Corporation International's payout ratio is presently 35.16%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SCI shares. UBS Group cut their price objective on Service Corporation International from $90.00 to $88.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wall Street Zen raised Service Corporation International from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $89.25.

Insider Activity

In other news, Director Tony Coelho sold 5,400 shares of Service Corporation International stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.94, for a total value of $410,076.00. Following the completion of the transaction, the director owned 43,938 shares in the company, valued at approximately $3,336,651.72. This trade represents a 10.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.

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.