New York State Common Retirement Fund Lowers Stock Holdings in Service Co. International (NYSE:SCI)

New York State Common Retirement Fund lowered its stake in Service Co. International (NYSE:SCI) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,890 shares of the company’s stock after selling 2,660 shares during the period. New York State Common Retirement Fund’s holdings in Service Co. International were worth $7,335,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. M&T Bank Corp grew its position in Service Co. International by 1.1% in the 3rd quarter. M&T Bank Corp now owns 11,248 shares of the company’s stock valued at $888,000 after buying an additional 123 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Service Co. International by 2.7% in the 4th quarter. CIBC Asset Management Inc now owns 5,167 shares of the company’s stock worth $412,000 after acquiring an additional 138 shares during the period. Moloney Securities Asset Management LLC boosted its holdings in shares of Service Co. International by 1.4% in the third quarter. Moloney Securities Asset Management LLC now owns 13,582 shares of the company’s stock valued at $1,072,000 after acquiring an additional 182 shares in the last quarter. Stanley Laman Group Ltd. increased its stake in shares of Service Co. International by 0.5% during the fourth quarter. Stanley Laman Group Ltd. now owns 40,098 shares of the company’s stock worth $3,201,000 after acquiring an additional 214 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in Service Co. International by 4.2% during the third quarter. QRG Capital Management Inc. now owns 5,396 shares of the company’s stock worth $426,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Service Co. International Price Performance

SCI stock opened at $80.75 on Thursday. The firm has a 50 day moving average of $78.57 and a 200-day moving average of $79.81. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 1.90 and a beta of 0.87. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 2.83. Service Co. International has a 12-month low of $67.19 and a 12-month high of $89.37.

Service Co. International (NYSE:SCI) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. Service Co. International had a return on equity of 32.18% and a net margin of 12.39%. As a group, equities analysts expect that Service Co. International will post 3.84 EPS for the current fiscal year.

Service Co. International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Service Co. International’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 1.59%. Service Co. International’s payout ratio is currently 36.06%.

Analysts Set New Price Targets

SCI has been the topic of a number of analyst reports. StockNews.com lowered Service Co. International from a “hold” rating to a “sell” rating in a report on Wednesday. Raymond James lifted their price target 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. Truist Financial increased their price objective on Service Co. International from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Oppenheimer raised their target price on Service Co. International from $86.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Service Co. International presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.50.

Service Co. International Profile

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.