Parallel Advisors LLC Acquires 3,972 Shares of Service Co. International (NYSE:SCI)

Posted by Defense World Staff on Jul 16th, 2023

Parallel Advisors LLC boosted its position in Service Co. International (NYSE:SCI – Free Report) by 988.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,374 shares of the company’s stock after acquiring an additional 3,972 shares during the period. Parallel Advisors LLC’s holdings in Service Co. International were worth $301,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ETF Managers Group LLC raised its position in shares of Service Co. International by 1.5% in the first quarter. ETF Managers Group LLC now owns 11,057 shares of the company’s stock valued at $760,000 after purchasing an additional 165 shares during the period. Private Advisor Group LLC raised its position in shares of Service Co. International by 2.2% in the first quarter. Private Advisor Group LLC now owns 8,269 shares of the company’s stock valued at $544,000 after purchasing an additional 181 shares during the period. Synovus Financial Corp raised its position in shares of Service Co. International by 3.3% in the fourth quarter. Synovus Financial Corp now owns 5,720 shares of the company’s stock valued at $395,000 after purchasing an additional 182 shares during the period. Empowered Funds LLC raised its position in shares of Service Co. International by 2.1% in the first quarter. Empowered Funds LLC now owns 9,045 shares of the company’s stock valued at $622,000 after purchasing an additional 182 shares during the period. Finally, Prudential PLC raised its position in shares of Service Co. International by 0.7% in the fourth quarter. Prudential PLC now owns 26,726 shares of the company’s stock valued at $1,848,000 after purchasing an additional 189 shares during the period. 86.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Service Co. International

In other news, CEO Thomas L. Ryan sold 62,417 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $65.54, for a total value of $4,090,810.18. Following the transaction, the chief executive officer now owns 962,409 shares of the company’s stock, valued at approximately $63,076,285.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.10% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Service Co. International in a research report on Thursday, May 18th. They issued a “hold” rating on the stock.

Service Co. International Stock Performance

Service Co. International stock opened at $67.08 on Friday. The firm’s 50 day simple moving average is $65.04 and its 200 day simple moving average is $67.82. The company has a current ratio of 0.42, a quick ratio of 0.38 and a debt-to-equity ratio of 2.67. The firm has a market capitalization of $10.14 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.33 and a beta of 0.77. 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 Free Report) last posted its earnings results on Monday, May 1st. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Service Co. International had a net margin of 12.19% and a return on equity of 31.30%. Service Co. International’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 EPS. As a group, analysts expect that Service Co. International will post 3.51 earnings per share for the current fiscal year.

Service Co. International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, June 14th. Service Co. International’s payout ratio is 34.84%.

Service Co. International Profile

(Free Report)

Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.