Service Co. International (NYSE:SCI) Shares Sold by Maryland State Retirement & Pension System

Posted by Defense World Staff on Sep 26th, 2023

Maryland State Retirement & Pension System cut its stake in shares of Service Co. International (NYSE:SCI – Free Report) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,356 shares of the company’s stock after selling 524 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Service Co. International were worth $733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SCI. Heritage Wealth Management LLC grew its holdings in Service Co. International by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 2,976 shares of the company’s stock valued at $206,000 after buying an additional 1,488 shares during the last quarter. First Hawaiian Bank grew its stake in Service Co. International by 11.4% during the second quarter. First Hawaiian Bank now owns 3,680 shares of the company’s stock worth $238,000 after buying an additional 377 shares during the period. Pictet Asset Management SA increased its position in shares of Service Co. International by 23.7% in the first quarter. Pictet Asset Management SA now owns 869,443 shares of the company’s stock worth $59,800,000 after acquiring an additional 166,411 shares in the last quarter. JGP Wealth Management LLC raised its stake in shares of Service Co. International by 11.4% in the 1st quarter. JGP Wealth Management LLC now owns 111,198 shares of the company’s stock valued at $7,648,000 after acquiring an additional 11,348 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Service Co. International by 11.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 78,861 shares of the company’s stock worth $5,424,000 after purchasing an additional 7,957 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Service Co. International Trading Down 1.0 %

Shares of NYSE SCI opened at $58.53 on Tuesday. The business has a 50-day moving average price of $63.21 and a two-hundred day moving average price of $65.34. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 2.71. Service Co. International has a one year low of $56.85 and a one year high of $74.66. The firm has a market capitalization of $8.83 billion, a PE ratio of 18.64, a PEG ratio of 2.20 and a beta of 0.76.

Service Co. International (NYSE:SCI – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $986.10 million. Service Co. International had a net margin of 12.11% and a return on equity of 31.72%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. As a group, analysts predict that Service Co. International will post 3.46 earnings per share for the current fiscal year.

Service Co. International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.67%. The ex-dividend date is Thursday, September 14th. This is a boost from Service Co. International’s previous quarterly dividend of $0.27. Service Co. International’s payout ratio is 36.94%.

Insider Buying and Selling at Service Co. International

In other news, CEO Thomas L. Ryan sold 1,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $65.31, for a total transaction of $65,310.00. Following the completion of the sale, the chief executive officer now owns 962,409 shares in the company, valued at $62,854,931.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Service Co. International news, CEO Thomas L. Ryan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $65.31, for a total value of $65,310.00. Following the transaction, the chief executive officer now directly owns 962,409 shares of the company’s stock, valued at $62,854,931.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 47,310 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $65.37, for a total transaction of $3,092,654.70. Following the sale, the chief executive officer now owns 962,409 shares of the company’s stock, valued at approximately $62,912,676.33. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SCI. Credit Suisse Group decreased their price target on shares of Service Co. International from $85.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. Raymond James cut their price target on Service Co. International from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Finally, StockNews.com began coverage on Service Co. International in a report on Thursday, August 17th. They set a “hold” rating on the stock.

View Our Latest Stock Report on Service Co. International

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.