Asset Management One Co. Ltd. Has $840,000 Stake in Service Co. International (NYSE:SCI)

Posted by Defense World Staff on May 4th, 2023

Asset Management One Co. Ltd. grew its position in Service Co. International (NYSE:SCI – Get Rating) by 9.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,043 shares of the company’s stock after buying an additional 990 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Service Co. International were worth $840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC bought a new stake in Service Co. International during the 4th quarter worth approximately $37,000. Fiducient Advisors LLC acquired a new position in Service Co. International during the fourth quarter worth $322,000. Ellevest Inc. raised its holdings in Service Co. International by 31.7% during the fourth quarter. Ellevest Inc. now owns 1,974 shares of the company’s stock worth $136,000 after buying an additional 475 shares during the last quarter. Argent Capital Management LLC acquired a new position in Service Co. International during the fourth quarter worth $2,778,000. Finally, SG Americas Securities LLC grew its stake in shares of Service Co. International by 209.7% in the 4th quarter. SG Americas Securities LLC now owns 11,872 shares of the company’s stock worth $821,000 after acquiring an additional 8,038 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Service Co. International Trading Down 2.8 %

Shares of SCI opened at $66.20 on Thursday. The firm’s 50 day simple moving average is $68.20 and its 200 day simple moving average is $68.79. The company has a market capitalization of $10.37 billion, a P/E ratio of 18.86, a P/E/G ratio of 2.44 and a beta of 0.78. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.45 and a quick ratio of 0.41. Service Co. International has a 1-year low of $56.85 and a 1-year high of $75.11.

Service Co. International (NYSE:SCI – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Service Co. International had a net margin of 13.76% and a return on equity of 34.56%. The business’s revenue was down 7.5% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. Sell-side analysts forecast that Service Co. International will post 3.52 earnings per share for the current fiscal year.

Service Co. International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, June 14th. Service Co. International’s dividend payout ratio (DPR) is presently 30.77%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SCI shares. StockNews.com started coverage on shares of Service Co. International in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group reiterated an “outperform” rating and set a $85.00 target price on shares of Service Co. International in a research report on Thursday, February 16th.

Insiders Place Their Bets

In other news, COO Sumner J. Waring III sold 29,200 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $68.67, for a total value of $2,005,164.00. Following the transaction, the chief operating officer now owns 338,866 shares in the company, valued at $23,269,928.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Thomas L. Ryan sold 2,836 shares of Service Co. International stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $70.95, for a total value 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 accessible through this hyperlink. Also, COO Sumner J. Waring III sold 29,200 shares of Service Co. International stock in a transaction on Friday, February 24th. The shares were sold at an average price of $68.67, for a total transaction of $2,005,164.00. Following the completion of 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. Insiders own 5.10% of the company’s stock.

About Service Co. International

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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.