Salient Trust Co Lta Lowers stake in Service Corporation International (SCI)

Service Corporation International (SCI) : Salient Trust Co Lta reduced its stake in Service Corporation International by 16.23% during the most recent quarter end. The investment management company now holds a total of 1,141,668 shares of Service Corporation International which is valued at $30,665,202 after selling 221,113 shares in Service Corporation International , the firm said in a disclosure report filed with the SEC on May 9, 2016.Service Corporation International makes up approximately 3.70% of Salient Trust Co Lta’s portfolio.

Other Hedge Funds, Including , Ibm Retirement Fund reduced its stake in SCI by selling 26,290 shares or 56.3% in the most recent quarter. The Hedge Fund company now holds 20,405 shares of SCI which is valued at $548,078. Service Corporation International makes up approx 0.02% of Ibm Retirement Fund’s portfolio. Pacad Investment Ltd. sold out all of its stake in SCI during the most recent quarter. The investment firm sold 9,000 shares of SCI which is valued $240,840.Great West Life Assurance Co Can reduced its stake in SCI by selling 16,700 shares or 21.95% in the most recent quarter. The Hedge Fund company now holds 59,373 shares of SCI which is valued at $1,583,478. Service Corporation International makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio. Newsquare Capital added SCI to its portfolio by purchasing 363 company shares during the most recent quarter which is valued at $9,681. Oppenheimer Co Inc added SCI to its portfolio by purchasing 8,712 company shares during the most recent quarter which is valued at $232,349. Service Corporation International makes up approx 0.01% of Oppenheimer Co Inc’s portfolio.

Service Corporation International closed down -0.18 points or -0.67% at $26.86 with 6,65,560 shares getting traded on Friday. Post opening the session at $26.95, the shares hit an intraday low of $26.74 and an intraday high of $27.18 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Service Corporation International reported $0.28 EPS for the quarter, based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus estimate of $0.28. The company had revenue of $749.27 million for the quarter, compared to analysts expectations of $715.75 million. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on Service Corporation International. Service Corporation International was Upgraded by Credit Suisse to ” Outperform” on Apr 28, 2016. Service Corporation International was Initiated by Credit Suisse to “Neutral” on Mar 16, 2016. Shares were Reiterated by Oppenheimer on Feb 12, 2016 to “Outperform” and Lowered the Price Target to $ 27 from a previous price target of $29 .

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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