Raymond James Trust N.A. Makes New Investment in Service Co. International (NYSE:SCI)

Posted by Defense World Staff on Apr 27th, 2023

Raymond James Trust N.A. acquired a new position in shares of Service Co. International (NYSE:SCI – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,215 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Service Co. International by 2.3% during the 1st quarter. State Street Corp now owns 4,610,877 shares of the company’s stock worth $303,488,000 after purchasing an additional 104,551 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Service Co. International by 85.8% in the third quarter. Neuberger Berman Group LLC now owns 2,118,968 shares of the company’s stock valued at $122,359,000 after acquiring an additional 978,419 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Service Co. International by 8.6% in the third quarter. Alliancebernstein L.P. now owns 1,899,872 shares of the company’s stock valued at $109,699,000 after acquiring an additional 150,169 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Service Co. International by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,873,027 shares of the company’s stock valued at $108,152,000 after acquiring an additional 34,027 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Service Co. International by 0.5% in the third quarter. Macquarie Group Ltd. now owns 1,777,437 shares of the company’s stock valued at $102,730,000 after acquiring an additional 8,916 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SCI has been the subject of several recent analyst reports. StockNews.com initiated coverage on Service Co. International in a report on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Service Co. International in a report on Thursday, February 16th.

Insider Buying and Selling at Service Co. International

In other Service Co. International news, CEO Thomas L. Ryan sold 2,836 shares of the stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $70.95, for a total transaction of $201,214.20. Following the sale, the chief executive officer now owns 962,409 shares in the company, valued at $68,282,918.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Service Co. International news, CEO Thomas L. Ryan sold 2,836 shares of the stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $70.95, for a total transaction of $201,214.20. Following the sale, the chief executive officer now owns 962,409 shares in the company, valued at $68,282,918.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Sumner J. Waring III sold 29,200 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $68.67, for a total value of $2,005,164.00. Following the sale, the chief operating officer now owns 338,866 shares in the company, valued at approximately $23,269,928.22. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Service Co. International Price Performance

Shares of NYSE SCI opened at $70.14 on Thursday. The stock has a fifty day simple moving average of $68.38 and a two-hundred day simple moving average of $68.51. Service Co. International has a 1-year low of $56.85 and a 1-year high of $75.11. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.43 and a beta of 0.78. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 2.54.

Service Co. International (NYSE:SCI – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.12. Service Co. International had a return on equity of 34.56% and a net margin of 13.76%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $974.69 million. During the same period in the prior year, the company earned $1.17 earnings per share. Service Co. International’s revenue was down 1.5% compared to the same quarter last year. Analysts anticipate that Service Co. International will post 3.52 earnings per share for the current year.

Service Co. International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.54%. The ex-dividend date was Tuesday, March 14th. Service Co. International’s dividend payout ratio (DPR) is 30.77%.

Service Co. International Profile

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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.