State Board of Administration of Florida Retirement System Raises Stock Position in Service Co. International (NYSE:SCI)

State Board of Administration of Florida Retirement System increased its stake in Service Co. International (NYSE:SCI) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,697 shares of the company’s stock after purchasing an additional 8,656 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Service Co. International were worth $11,809,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bridgefront Capital LLC bought a new position in Service Co. International in the fourth quarter worth approximately $852,000. Boulder Hill Capital Management LP bought a new stake in shares of Service Co. International during the 4th quarter valued at $2,492,000. International Assets Investment Management LLC raised its position in shares of Service Co. International by 6,783.1% during the 4th quarter. International Assets Investment Management LLC now owns 11,839 shares of the company’s stock valued at $810,000 after purchasing an additional 11,667 shares during the period. Parallel Advisors LLC raised its position in shares of Service Co. International by 3.8% during the 4th quarter. Parallel Advisors LLC now owns 4,515 shares of the company’s stock valued at $309,000 after purchasing an additional 165 shares during the period. Finally, Boston Trust Walden Corp raised its position in shares of Service Co. International by 3.2% during the 4th quarter. Boston Trust Walden Corp now owns 673,914 shares of the company’s stock valued at $46,129,000 after purchasing an additional 20,879 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Service Co. International news, Director Tony Coelho sold 2,900 shares of Service Co. International stock in a transaction 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 directly owns 60,629 shares of the company’s stock, valued at approximately $4,388,327.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Service Co. International Stock Performance

SCI opened at $74.38 on Friday. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 2.01 and a beta of 0.84. The company has a fifty day moving average of $71.47 and a 200 day moving average of $70.88. Service Co. International has a fifty-two week low of $52.89 and a fifty-two week high of $76.03. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.57 and a current ratio of 0.62.

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

Service Co. International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.61%. Service Co. International’s payout ratio is currently 34.48%.

About Service Co. International

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.