Select Equity Group L.P. Purchases 2,524,795 Shares of Service Co. International (NYSE:SCI)

Select Equity Group L.P. grew its holdings in Service Co. International (NYSE:SCI) by 53.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,239,783 shares of the company’s stock after acquiring an additional 2,524,795 shares during the period. Service Co. International accounts for 2.0% of Select Equity Group L.P.’s portfolio, making the stock its 16th largest holding. Select Equity Group L.P. owned 5.01% of Service Co. International worth $514,966,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SCI. Bridgefront Capital LLC purchased a new position in shares of Service Co. International during the 4th quarter valued at about $852,000. Boulder Hill Capital Management LP purchased a new position in Service Co. International during the fourth quarter valued at approximately $2,492,000. Parallel Advisors LLC boosted its position in shares of Service Co. International by 3.8% in the fourth quarter. Parallel Advisors LLC now owns 4,515 shares of the company’s stock worth $309,000 after purchasing an additional 165 shares during the period. BDF Gestion purchased a new stake in shares of Service Co. International in the second quarter worth $3,948,000. Finally, Diversify Advisory Services LLC bought a new stake in shares of Service Co. International during the 1st quarter valued at $865,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SCI. StockNews.com lowered Service Co. International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Truist Financial upped their price target on Service Co. International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Service Co. International has an average rating of “Moderate Buy” and an average target price of $77.60.

Insider Buying and Selling at Service Co. International

In other news, Director Ellen Ochoa sold 2,642 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $76.41, for a total transaction of $201,875.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Ellen Ochoa sold 2,642 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $76.41, for a total transaction of $201,875.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas L. Ryan sold 80,638 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $73.97, for a total value of $5,964,792.86. Following the sale, the chief executive officer now owns 988,365 shares in the company, valued at approximately $73,109,359.05. The disclosure for this sale can be found here. 5.10% of the stock is owned by company insiders.

Service Co. International Trading Up 0.3 %

Shares of Service Co. International stock opened at $78.62 on Friday. Service Co. International has a twelve month low of $52.89 and a twelve month high of $81.32. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 3.05. The business has a 50-day moving average price of $77.12 and a 200-day moving average price of $73.44. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 2.29 and a beta of 0.84.

Service Co. International (NYSE:SCI) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.07). The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Service Co. International had a net margin of 12.32% and a return on equity of 32.07%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. Equities research analysts anticipate that Service Co. International will post 3.52 EPS for the current fiscal year.

Service Co. International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Friday, September 13th. Service Co. International’s payout ratio is 34.48%.

Service Co. International 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.