Pitcairn Co. Cuts Stock Position in Service Co. International (NYSE:SCI)

Pitcairn Co. trimmed its position in shares of Service Co. International (NYSE:SCI) by 10.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,068 shares of the company’s stock after selling 2,975 shares during the quarter. Pitcairn Co.’s holdings in Service Co. International were worth $2,058,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of Service Co. International by 53.8% during the third quarter. Cerity Partners LLC now owns 51,863 shares of the company’s stock worth $4,094,000 after acquiring an additional 18,132 shares in the last quarter. Icon Wealth Advisors LLC grew its holdings in shares of Service Co. International by 313.3% during the 3rd quarter. Icon Wealth Advisors LLC now owns 6,394 shares of the company’s stock valued at $505,000 after purchasing an additional 4,847 shares during the last quarter. Raymond James Trust N.A. bought a new position in shares of Service Co. International during the 3rd quarter valued at $230,000. Commerce Bank raised its position in Service Co. International by 16.3% in the 3rd quarter. Commerce Bank now owns 8,897 shares of the company’s stock worth $702,000 after purchasing an additional 1,248 shares during the period. Finally, Premier Fund Managers Ltd lifted its stake in Service Co. International by 23.9% in the third quarter. Premier Fund Managers Ltd now owns 1,093,723 shares of the company’s stock worth $85,721,000 after purchasing an additional 210,802 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

SCI has been the subject of several analyst reports. Truist Financial increased their target price on Service Co. International from $84.00 to $92.00 and gave the company a “buy” rating in a report on Friday, November 1st. Raymond James increased their price objective on Service Co. International from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com lowered shares of Service Co. International from a “hold” rating to a “sell” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.25.

Insider Buying and Selling

In other news, VP Elisabeth G. Nash sold 56,100 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $86.13, for a total value of $4,831,893.00. Following the sale, the vice president now directly owns 109,260 shares of the company’s stock, valued at approximately $9,410,563.80. This represents a 33.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas L. Ryan sold 50,000 shares of Service Co. International stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $86.11, for a total value of $4,305,500.00. Following the completion of the transaction, the chief executive officer now directly owns 982,333 shares of the company’s stock, valued at approximately $84,588,694.63. This represents a 4.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,655 shares of company stock worth $9,356,203 in the last three months. 5.10% of the stock is owned by corporate insiders.

Service Co. International Price Performance

SCI stock opened at $87.24 on Friday. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.52 and a quick ratio of 0.48. Service Co. International has a 1 year low of $60.60 and a 1 year high of $88.32. The firm has a 50-day moving average of $79.73 and a 200 day moving average of $75.72. The company has a market cap of $12.62 billion, a P/E ratio of 25.36, a PEG ratio of 2.52 and a beta of 0.83.

Service Co. International (NYSE:SCI) last released its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Service Co. International had a return on equity of 31.84% and a net margin of 12.19%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, sell-side analysts forecast that Service Co. International will post 3.51 EPS for the current year.

Service Co. International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Service Co. International’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.42%. Service Co. International’s dividend payout ratio is currently 34.88%.

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.