Nordea Investment Management AB Has $74.09 Million Stake in Service Co. International (NYSE:SCI)

Nordea Investment Management AB lowered its position in shares of Service Co. International (NYSE:SCI) by 36.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 923,634 shares of the company’s stock after selling 518,448 shares during the period. Nordea Investment Management AB’s holdings in Service Co. International were worth $74,094,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Select Equity Group L.P. raised its holdings in Service Co. International by 53.5% in the 2nd quarter. Select Equity Group L.P. now owns 7,239,783 shares of the company’s stock valued at $514,966,000 after buying an additional 2,524,795 shares during the last quarter. FMR LLC raised its stake in shares of Service Co. International by 300.6% during the third quarter. FMR LLC now owns 4,055,823 shares of the company’s stock valued at $320,126,000 after acquiring an additional 3,043,354 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Service Co. International by 5.1% during the third quarter. Geode Capital Management LLC now owns 3,211,902 shares of the company’s stock worth $253,567,000 after purchasing an additional 156,086 shares during the period. Swedbank AB grew its stake in shares of Service Co. International by 1.9% in the third quarter. Swedbank AB now owns 2,900,020 shares of the company’s stock worth $228,899,000 after purchasing an additional 55,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Service Co. International by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,942,559 shares of the company’s stock valued at $138,183,000 after purchasing an additional 135,017 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Elisabeth G. Nash sold 56,100 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $86.13, for a total value of $4,831,893.00. Following the completion of the sale, the vice president now directly owns 109,260 shares of the company’s stock, valued at $9,410,563.80. This represents a 33.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tony Coelho sold 2,555 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $85.64, for a total value of $218,810.20. Following the completion of the sale, the director now directly owns 53,324 shares of the company’s stock, valued at $4,566,667.36. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,655 shares of company stock worth $9,356,203 over the last quarter. 5.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on SCI. Truist Financial lifted their target price on Service Co. International from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Raymond James upped their target price on Service Co. International from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Service Co. International from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, Oppenheimer upped their price objective on shares of Service Co. International from $86.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.50.

Service Co. International Trading Up 1.0 %

NYSE SCI opened at $78.11 on Wednesday. Service Co. International has a one year low of $64.10 and a one year high of $89.37. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.52 and a quick ratio of 0.48. The business has a 50 day simple moving average of $84.07 and a 200 day simple moving average of $78.66. The stock has a market capitalization of $11.30 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.51 and a beta of 0.87.

Service Co. International (NYSE:SCI) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Service Co. International had a net margin of 12.19% and a return on equity of 31.84%. Service Co. International’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. Research analysts expect that Service Co. International will post 3.51 earnings per share for the current year.

Service Co. International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from Service Co. International’s previous quarterly dividend of $0.30. Service Co. International’s dividend payout ratio (DPR) is 34.88%.

Service Co. International 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.