Bank of New York Mellon Corp reduces shares of Service Co. International (NYSE:SCI)

Bank of New York Mellon Corp decreased its position in shares of Service Co. International (NYSE:SCI – Free Report) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,467,750 shares of the company’s stock after selling 6,898 shares during the period. Bank of New York Mellon Corp’s holdings in Service Co. International were worth $104,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have added to or reduced their stakes in SCI. Swedbank AB acquired a new stake in the shares of Service Co. Internationally in the first quarter, valued at approximately $224,137,000. Coho Partners Ltd. increased its position in shares of Service Co. International by 10.6% in the first quarter. Coho Partners Ltd. now owns 1,685,111 shares of the company’s stock valued at $125,052,000 after acquiring an additional 161,570 shares during the period. Norges Bank acquired a new stake in Service Co shares. International in the fourth quarter, worth approximately $92,331,000. Charles Schwab Investment Management Inc. increased its holdings in Service Co shares. International by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 908,456 shares of the company’s stock worth $62,184,000 after purchasing an additional 9,381 shares during the period. Finally, Premier Fund Managers Ltd increased its stake in Service Co. International by 0.7% in the fourth quarter. Premier Fund Managers Ltd now owns 802,004 shares of the company’s stock valued at $55,030,000 after purchasing an additional 5,693 shares in the last quarter. 85.53% of the shares are currently held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

Several analysts have issued reports on the company. Oppenheimer increased their price target on Service Co. International from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. StockNews.com downgraded Service Co stock. International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Truist Financial lifted their price target 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 boosted their price target on shares of Service Co. International from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Service Co. International currently has a consensus rating of “Moderate Buy” and an average target price of $77.60.

Check out our latest analysis on SCI

Internal activity at Service Co. International

In other Service Co. news. International, Director Tony Coelho sold 2,900 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $72.38, for a total value of $209,902.00. Following the completion of the transaction, the director now owns 60,629 shares of the company’s stock, valued at approximately $4,388,327.02. The transaction was disclosed in a filing with the SEC, which is available via this link. In other Service Co. news. International, Director Tony Coelho sold 2,900 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $72.38, for a total value of $209,902.00. Following the completion of the sale, the director now 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 via this link. Also, Director Ellen Ochoa sold 2,642 shares of Service Co stock. International in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $76.41, for a total transaction of $201,875.22. The disclosure for this sale can be found here. Insiders have sold 86,180 shares of company stock worth $6,376,570 in the last three months. 5.10% of shares are owned by corporate insiders.

Service Co. International price performance

Shares of SCI stock opened at $78.10 on Wednesday. The firm has a 50-day moving average of $73.91 and a 200-day moving average of $72.42. The company has a current ratio of 0.55, a quick ratio of 0.51, and a debt-to-equity ratio of 3.05. The firm has a market cap of $11.37 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 2.20 and a beta of 0.84. Service Co. International has a 12-month low of $52.89 and a 12-month high of $80.37.

Service Co. International (NYSE:SCI – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). Service Co. International had a net margin of 12.32% and a return on equity of 32.07%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. In the same quarter last year, the company earned $0.83 per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Service Co. International will post 3.52 earnings per share for the current fiscal year.

Service Co. International announces dividends

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.30 dividend. This represents an annualized dividend of $1.20 and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, September 13. Dividend Payout Ratio (DPR) of Service Co. International is 34.48%.

Service Co. International profile

(Free Report)

Service Corporation International provides bereavement products and services in the United States and Canada. Funeral services and cemetery operations include funeral service locations, cemeteries, funeral service locations/cemetery combinations, crematoriums, and other businesses. The company also offers professional funeral and cremation services, including the use of funeral homes and motor vehicles; arranging and directing services; and removal, preparation, embalming, cremation, memorialization and travel protection, as well as catering services.

Featured stories

Want to see what other hedge funds own SCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Service Co. International (NYSE:SCI – Free Report).

Get news and reviews for Service Co. International Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Service Co. International and affiliates with MarketBeat.com’s FREE daily email newsletter.