QRG Capital Management Inc. Raises Stock Holdings in Service Co. International (NYSE:SCI)

QRG Capital Management Inc. lifted its holdings in Service Co. International (NYSE:SCI) by 4.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,396 shares of the company’s stock after purchasing an additional 217 shares during the period. QRG Capital Management Inc.’s holdings in Service Co. International were worth $426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in shares of Service Co. International by 36.8% in the third quarter. Farther Finance Advisors LLC now owns 926 shares of the company’s stock worth $73,000 after buying an additional 249 shares during the period. Custom Index Systems LLC raised its holdings in shares of Service Co. International by 69.6% in the third quarter. Custom Index Systems LLC now owns 9,054 shares of the company’s stock worth $715,000 after buying an additional 3,716 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Service Co. International by 2.0% in the third quarter. State of Alaska Department of Revenue now owns 45,127 shares of the company’s stock worth $3,561,000 after buying an additional 885 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Service Co. International by 5.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,824 shares of the company’s stock worth $696,000 after buying an additional 419 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Service Co. International by 29.1% in the third quarter. Allworth Financial LP now owns 1,327 shares of the company’s stock worth $105,000 after buying an additional 299 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Service Co. International Stock Up 1.1 %

Shares of NYSE SCI opened at $86.94 on Monday. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 2.91. The stock has a market capitalization of $12.57 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 2.54 and a beta of 0.83. The stock’s fifty day simple moving average is $78.36 and its two-hundred day simple moving average is $74.72. Service Co. International has a 12-month low of $57.03 and a 12-month high of $87.11.

Service Co. International (NYSE:SCI) last announced its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Service Co. International had a return on equity of 31.84% and a net margin of 12.19%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. As a group, analysts expect that Service Co. International will post 3.51 EPS for the current fiscal year.

Service Co. International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.31 dividend. This is a boost from Service Co. International’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.43%. Service Co. International’s dividend payout ratio (DPR) is presently 34.88%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SCI shares. Raymond James increased their price objective on Service Co. International from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. StockNews.com cut Service Co. International from a “hold” rating to a “sell” rating in a research note on Friday. Finally, 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 note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.25.

Insider Transactions at Service Co. International

In other news, Director Ellen Ochoa sold 2,642 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.10% of the company’s stock.

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.