Mackenzie Financial Corp Has $214,000 Position in Service Co. International (NYSE:SCI)

Mackenzie Financial Corp cut its holdings in shares of Service Co. International (NYSE:SCI) by 47.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,129 shares of the company’s stock after selling 2,861 shares during the quarter. Mackenzie Financial Corp’s holdings in Service Co. International were worth $214,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV raised its stake in shares of Service Co. International by 204.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 599 shares of the company’s stock valued at $41,000 after acquiring an additional 402 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Service Co. International in the third quarter worth $36,000. M&R Capital Management Inc. increased its holdings in Service Co. International by 125.5% in the fourth quarter. M&R Capital Management Inc. now owns 902 shares of the company’s stock valued at $62,000 after purchasing an additional 502 shares during the period. Fifth Third Bancorp raised its position in Service Co. International by 45.4% during the 3rd quarter. Fifth Third Bancorp now owns 1,224 shares of the company’s stock worth $70,000 after purchasing an additional 382 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Service Co. International during the 3rd quarter worth about $80,000. 85.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SCI has been the subject of a number of analyst reports. Oppenheimer raised their price objective on Service Co. International from $71.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. UBS Group raised their price target on shares of Service Co. International from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Service Co. International currently has an average rating of “Moderate Buy” and an average price target of $75.00.

Insiders Place Their Bets

In other news, VP Steven A. Tidwell sold 45,995 shares of Service Co. International stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $75.43, for a total transaction of $3,469,402.85. Following the sale, the vice president now directly owns 54,354 shares in the company, valued at approximately $4,099,922.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Steven A. Tidwell sold 45,995 shares of Service Co. International stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $75.43, for a total value of $3,469,402.85. Following the sale, the vice president now owns 54,354 shares of the company’s stock, valued at approximately $4,099,922.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas L. Ryan sold 75,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $73.53, for a total value of $5,514,750.00. Following the transaction, the chief executive officer now directly owns 988,365 shares of the company’s stock, valued at $72,674,478.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,675 shares of company stock valued at $15,066,906. Insiders own 5.10% of the company’s stock.

Service Co. International Stock Performance

NYSE SCI opened at $72.93 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 3.02. The company has a fifty day simple moving average of $72.35 and a 200 day simple moving average of $66.93. The company has a market cap of $10.69 billion, a P/E ratio of 20.72, a PEG ratio of 1.96 and a beta of 0.81. Service Co. International has a 12-month low of $52.89 and a 12-month high of $75.97.

Service Co. International (NYSE:SCI) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. Service Co. International had a return on equity of 32.88% and a net margin of 13.11%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned $0.92 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that Service Co. International will post 3.62 earnings per share for the current fiscal year.

Service Co. International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 1.65%. This is a boost from Service Co. International’s previous quarterly dividend of $0.29. Service Co. International’s payout ratio is currently 32.95%.

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.