Handelsinvest Investeringsforvaltning Reduces Stock Position in Service Co. International (NYSE:SCI)

Handelsinvest Investeringsforvaltning reduced its holdings in shares of Service Co. International (NYSE:SCI) by 20.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,621 shares of the company’s stock after selling 3,797 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Service Co. International were worth $1,085,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bridgefront Capital LLC purchased a new stake in shares of Service Co. International during the 4th quarter valued at approximately $852,000. Teachers Retirement System of The State of Kentucky lifted its stake in Service Co. International by 87.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 53,466 shares of the company’s stock worth $3,055,000 after purchasing an additional 24,941 shares in the last quarter. Boulder Hill Capital Management LP purchased a new stake in Service Co. International in the 4th quarter worth approximately $2,492,000. International Assets Investment Management LLC lifted its stake in Service Co. International by 6,783.1% in the 4th quarter. International Assets Investment Management LLC now owns 11,839 shares of the company’s stock worth $810,000 after purchasing an additional 11,667 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Service Co. International by 3.8% in the 4th quarter. Parallel Advisors LLC now owns 4,515 shares of the company’s stock worth $309,000 after purchasing an additional 165 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Victor L. Lund sold 7,606 shares of Service Co. International stock in a transaction on Monday, April 15th. The shares were sold at an average price of $70.00, for a total value of $532,420.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Service Co. International news, Director Tony Coelho sold 2,900 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $72.38, for a total value of $209,902.00. Following the transaction, the director now owns 60,629 shares in the company, valued at $4,388,327.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Victor L. Lund sold 7,606 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $70.00, for a total transaction of $532,420.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,517 shares of company stock worth $813,092 in the last 90 days. 4.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on SCI shares. Oppenheimer increased their target price on shares of Service Co. International from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Truist Financial increased their target price on shares of Service Co. International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, UBS Group increased their target price on shares of Service Co. International from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Service Co. International presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Service Co. International Stock Performance

NYSE SCI opened at $70.45 on Wednesday. Service Co. International has a 52-week low of $52.89 and a 52-week high of $75.97. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.57 and a current ratio of 0.62. The company has a market capitalization of $10.26 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.92 and a beta of 0.84. The company has a fifty day moving average of $71.05 and a 200-day moving average of $70.61.

Service Co. International (NYSE:SCI) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Service Co. International had a net margin of 12.73% and a return on equity of 32.23%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $0.93 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts predict that Service Co. International will post 3.66 EPS for the current fiscal year.

Service Co. International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, June 14th. Service Co. International’s payout ratio is presently 34.48%.

About Service Co. International

Service Corporation International provides deathcare products and services in the United States and Canada. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses. The company also provides professional services related to funerals and cremations, including the use of funeral home facilities and motor vehicles; arranging and directing services; and removal, preparation, embalming, cremation, memorialization, and travel protection, as well as catering services.