Morton Community Bank Acquires 3,110 Shares of Service Co. International (NYSE:SCI)

Morton Community Bank increased its holdings in shares of Service Co. International (NYSE:SCI) by 7.9% during the second quarter, HoldingsChannel.com reports. The fund owned 42,485 shares of the company’s stock after buying an additional 3,110 shares during the quarter. Morton Community Bank’s holdings in Service Co. International were worth $3,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Swedbank AB purchased a new stake in shares of Service Co. International during the 1st quarter valued at $224,137,000. Coho Partners Ltd. raised its position in Service Co. International by 10.6% in the first quarter. Coho Partners Ltd. now owns 1,685,111 shares of the company’s stock worth $125,052,000 after acquiring an additional 161,570 shares during the period. Norges Bank purchased a new position in Service Co. International in the fourth quarter valued at about $92,331,000. Charles Schwab Investment Management Inc. grew its position in shares of Service Co. International by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 908,456 shares of the company’s stock valued at $62,184,000 after acquiring an additional 9,381 shares during the period. Finally, Premier Fund Managers Ltd grew its position in shares of Service Co. International by 0.7% during the 4th quarter. Premier Fund Managers Ltd now owns 802,004 shares of the company’s stock valued at $55,030,000 after acquiring an additional 5,693 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

SCI has been the topic of a number of research reports. 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 report on Friday, June 21st. UBS Group boosted their target price on Service Co. International from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Oppenheimer lifted their price objective on Service Co. International from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. Finally, StockNews.com cut Service Co. International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.60.

Service Co. International Stock Performance

Shares of NYSE:SCI traded down $0.54 during midday trading on Friday, reaching $77.91. 869,863 shares of the company traded hands, compared to its average volume of 816,980. The firm’s fifty day moving average price is $74.85 and its two-hundred day moving average price is $72.83. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 2.25 and a beta of 0.84. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 3.05. Service Co. International has a 12 month low of $52.89 and a 12 month high of $80.37.

Service Co. International (NYSE:SCI) last announced 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). Service Co. International had a net margin of 12.32% and a return on equity of 32.07%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.83 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that Service Co. International will post 3.52 earnings per share for the current year.

Service Co. International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, September 13th. Service Co. International’s payout ratio is 34.48%.

Insider Activity

In related news, Director Ellen Ochoa sold 2,642 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $76.41, for a total value of $201,875.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Service Co. International news, CEO Thomas L. Ryan sold 80,638 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 988,365 shares of the company’s stock, valued at approximately $73,109,359.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ellen Ochoa sold 2,642 shares of the firm’s stock in a transaction 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 sold 86,180 shares of company stock worth $6,376,570 in the last three months. Corporate insiders own 5.10% of the company’s stock.

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.