Truist Financial Corp Sells 12,227 Shares of Service Co. International (NYSE:SCI)

Truist Financial Corp reduced its position in Service Co. International (NYSE:SCIGet Rating) by 54.3% during the third quarter, HoldingsChannel reports. The firm owned 10,270 shares of the company’s stock after selling 12,227 shares during the period. Truist Financial Corp’s holdings in Service Co. International were worth $593,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. boosted its stake in Service Co. International by 7.4% during the second quarter. Baillie Gifford & Co. now owns 17,888,163 shares of the company’s stock worth $1,236,430,000 after acquiring an additional 1,232,317 shares in the last quarter. State Street Corp boosted its stake in Service Co. International by 2.3% during the first quarter. State Street Corp now owns 4,610,877 shares of the company’s stock worth $303,488,000 after acquiring an additional 104,551 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Service Co. International by 4.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,114,867 shares of the company’s stock worth $146,180,000 after acquiring an additional 96,071 shares in the last quarter. Ophir Asset Management Pty Ltd bought a new position in Service Co. International during the second quarter worth $17,294,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Service Co. International by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 903,954 shares of the company’s stock worth $59,499,000 after acquiring an additional 26,046 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

SCI has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Service Co. International in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Truist Financial initiated coverage on shares of Service Co. International in a report on Friday, October 7th. They set a “buy” rating and a $72.00 price objective on the stock.

Service Co. International Stock Performance

SCI opened at $70.24 on Monday. The company has a current ratio of 0.48, a quick ratio of 0.43 and a debt-to-equity ratio of 2.46. The company’s fifty day moving average price is $69.92 and its two-hundred day moving average price is $66.57. Service Co. International has a 1-year low of $56.85 and a 1-year high of $75.11. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.66 and a beta of 0.77.

Service Co. International (NYSE:SCIGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.17. Service Co. International had a net margin of 16.48% and a return on equity of 36.22%. The firm had revenue of $977.72 million for the quarter, compared to the consensus estimate of $879.87 million. On average, analysts expect that Service Co. International will post 3.67 EPS for the current fiscal year.

Service Co. International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 15th were issued a $0.27 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.54%. This is an increase from Service Co. International’s previous quarterly dividend of $0.25. Service Co. International’s dividend payout ratio is currently 25.96%.

Service Co. International declared that its board has authorized a stock buyback plan on Wednesday, November 2nd that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CEO Thomas L. Ryan sold 10,300 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $68.03, for a total value of $700,709.00. Following the completion of the sale, the chief executive officer now owns 968,909 shares in the company, valued at $65,914,879.27. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Thomas L. Ryan sold 10,300 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $68.03, for a total value of $700,709.00. Following the completion of the sale, the chief executive officer now owns 968,909 shares in the company, valued at $65,914,879.27. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan R. Buckwalter III sold 20,000 shares of the stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $71.64, for a total transaction of $1,432,800.00. Following the completion of the sale, the director now owns 32,326 shares of the company’s stock, valued at approximately $2,315,834.64. The disclosure for this sale can be found here. Insiders sold a total of 37,005 shares of company stock worth $2,604,736 over the last quarter. Insiders own 5.10% of the company’s stock.

Service Co. International Company Profile

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Service Corp. International engages in the provision of funeral goods and services. It operates through the following business segments: Funeral and Cemetery. 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.

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Institutional Ownership by Quarter for Service Co. International (NYSE:SCI)

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