Swiss National Bank Purchases 4,400 Shares of Service Co. International (NYSE:SCI)

Posted by Defense World Staff on May 12th, 2023

Swiss National Bank boosted its position in Service Co. International (NYSE:SCI – Get Rating) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 380,800 shares of the company’s stock after acquiring an additional 4,400 shares during the period. Swiss National Bank owned 0.25% of Service Co. International worth $26,329,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SCI. Accurate Wealth Management LLC bought a new position in Service Co. International during the fourth quarter worth about $27,000. Parallel Advisors LLC raised its position in Service Co. International by 96.1% in the 4th quarter. Parallel Advisors LLC now owns 402 shares of the company’s stock valued at $28,000 after buying an additional 197 shares during the last quarter. Ronald Blue Trust Inc. raised its position in Service Co. International by 127.4% in the 4th quarter. Ronald Blue Trust Inc. now owns 532 shares of the company’s stock valued at $31,000 after buying an additional 298 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Service Co. International in the 4th quarter valued at approximately $37,000. Finally, Asset Dedication LLC acquired a new stake in Service Co. International in the 4th quarter valued at approximately $40,000. Institutional investors own 84.68% of the company’s stock.

Service Co. International Stock Down 1.1 %

NYSE:SCI opened at $66.02 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 2.67. Service Co. International has a twelve month low of $56.85 and a twelve month high of $75.11. The stock’s 50 day moving average price is $67.92 and its two-hundred day moving average price is $68.97. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78.

Service Co. International (NYSE:SCI – Get Rating) last issued its 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. Service Co. International had a return on equity of 31.30% and a net margin of 12.19%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $1.34 EPS. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities research analysts expect that Service Co. International will post 3.52 earnings per share for the current fiscal year.

Service Co. International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.64%. Service Co. International’s dividend payout ratio is currently 34.84%.

Insider Transactions at Service Co. International

In related news, COO Sumner J. Waring III sold 29,200 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 338,866 shares in the company, valued at approximately $23,269,928.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Sumner J. Waring III sold 29,200 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 338,866 shares in the company, valued at approximately $23,269,928.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas L. Ryan sold 2,836 shares of the company’s 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 of the company’s stock, valued at $68,282,918.55. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.