Texas Permanent School Fund Corp Buys 1,731 Shares of Service Co. International (NYSE:SCI)

Texas Permanent School Fund Corp lifted its stake in Service Co. International (NYSE:SCI) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 129,305 shares of the company’s stock after acquiring an additional 1,731 shares during the period. Texas Permanent School Fund Corp owned 0.09% of Service Co. International worth $9,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCI. Norges Bank acquired a new stake in Service Co. International in the 4th quarter valued at approximately $92,331,000. GW&K Investment Management LLC bought a new position in shares of Service Co. International during the 4th quarter worth approximately $22,890,000. Jennison Associates LLC lifted its position in shares of Service Co. International by 430.3% during the 1st quarter. Jennison Associates LLC now owns 357,075 shares of the company’s stock worth $26,499,000 after buying an additional 289,741 shares during the period. Corient Private Wealth LLC lifted its position in shares of Service Co. International by 2,178.3% during the 4th quarter. Corient Private Wealth LLC now owns 234,484 shares of the company’s stock worth $16,050,000 after buying an additional 224,192 shares during the period. Finally, Groupama Asset Managment bought a new position in shares of Service Co. International during the 4th quarter worth approximately $10,280,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Transactions at Service Co. International

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

Service Co. International Price Performance

SCI traded up $1.79 during trading on Thursday, hitting $71.54. The company’s stock had a trading volume of 891,431 shares, compared to its average volume of 868,788. The firm’s 50 day moving average price is $70.87 and its two-hundred day moving average price is $70.66. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 2.90. Service Co. International has a 12 month low of $52.89 and a 12 month high of $75.97. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.89 and a beta of 0.84.

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

Service Co. International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.30 per share. The ex-dividend date was Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.68%. Service Co. International’s payout ratio is currently 34.48%.

Wall Street Analysts Forecast Growth

SCI has been the subject of several analyst reports. UBS Group raised their target price on Service Co. International from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Truist Financial raised their target price on Service Co. International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Oppenheimer lifted their price objective on Service Co. International from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.00.

Service Co. International Company Profile

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.