Canyon Capital Advisors Lowers stake in Service Corporation International (SCI)

Service Corporation International (SCI) : Canyon Capital Advisors reduced its stake in Service Corporation International by 0.73% during the most recent quarter end. The investment management company now holds a total of 2,542,269 shares of Service Corporation International which is valued at $65,488,849 after selling 18,640 shares in Service Corporation International , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Service Corporation International makes up approximately 2.84% of Canyon Capital Advisors’s portfolio.

Other Hedge Funds, Including , Comerica Bank boosted its stake in SCI in the latest quarter, The investment management firm added 1,316 additional shares and now holds a total of 136,648 shares of Service Corporation International which is valued at $3,474,959. Service Corporation International makes up approx 0.03% of Comerica Bank’s portfolio.Argent Trust Co reduced its stake in SCI by selling 1,540 shares or 1.42% in the most recent quarter. The Hedge Fund company now holds 106,738 shares of SCI which is valued at $2,752,773. Service Corporation International makes up approx 0.84% of Argent Trust Co’s portfolio.Ls Investment Advisors boosted its stake in SCI in the latest quarter, The investment management firm added 759 additional shares and now holds a total of 12,619 shares of Service Corporation International which is valued at $318,504. Service Corporation International makes up approx 0.02% of Ls Investment Advisors’s portfolio.

Service Corporation International opened for trading at $26.31 and hit $26.51 on the upside on Monday, eventually ending the session at $26.4, with a gain of 0.46% or 0.12 points. The heightened volatility saw the trading volume jump to 9,86,708 shares. Company has a market cap of $5,029 M.

On the company’s financial health, Service Corporation International reported $0.26 EPS for the quarter, based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus estimate of $0.26. The company had revenue of $721.50 million for the quarter, compared to analysts expectations of $740.69 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Investors should note that on Nov 8, 2016, Service Corporation International announced a cash dividend of $0.1300. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Dec 30, 2016.

Service Corporation International is a provider of death care products and services. The Company has a network of funeral service locations and cemeteries operating in the United States and Canada. Its funeral service and cemetery operations consist of funeral service locations cemeteries funeral service/cemetery combination locations crematoria and related businesses. The Company’s segments include Funeral and Cemetery. The Company’s brands include Dignity Memorial Dignity Planning National Cremation Society Advantage Funeraria Del Angel Making Everlasting Memories and Neptune Society/Trident Society. The Company sells cemetery property and funeral and cemetery merchandise and services at the time of need and on a pre-need basis. The Company provides professional services relating to funerals and cremations including the use of funeral facilities and motor vehicles and preparation and embalming services.

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