Balyasny Asset Management L.P. Makes New Investment in Stantec Inc. (NYSE:STN)

Balyasny Asset Management L.P. acquired a new position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,188 shares of the business services provider's stock, valued at approximately $1,191,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Stantec by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 4,575,078 shares of the business services provider's stock worth $358,951,000 after buying an additional 74,976 shares in the last quarter. Bank of Montreal Can increased its stake in Stantec by 9.5% in the fourth quarter. Bank of Montreal Can now owns 3,496,408 shares of the business services provider's stock worth $273,970,000 after purchasing an additional 302,979 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Stantec by 19.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,344,994 shares of the business services provider's stock worth $262,791,000 after buying an additional 542,305 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Stantec by 11.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider's stock valued at $155,433,000 after purchasing an additional 207,470 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Stantec by 0.8% during the fourth quarter. Alliancebernstein L.P. now owns 1,774,759 shares of the business services provider's stock valued at $139,230,000 after purchasing an additional 14,332 shares in the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

Stantec Stock Up 1.7%

Shares of STN traded up $1.67 during midday trading on Friday, reaching $101.20. 325,935 shares of the stock were exchanged, compared to its average volume of 141,526. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 46.00 and a beta of 0.98. The firm has a 50 day simple moving average of $86.56 and a 200-day simple moving average of $82.85. Stantec Inc. has a 12-month low of $73.18 and a 12-month high of $101.83. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54.

Stantec (NYSE:STN - Get Free Report) TSE: STN last released its quarterly earnings results on Wednesday, May 14th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.54 billion. Stantec had a return on equity of 16.57% and a net margin of 4.78%. Research analysts forecast that Stantec Inc. will post 3.05 EPS for the current year.

Stantec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.1612 dividend. This is a boost from Stantec's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.64 annualized dividend and a yield of 0.64%. Stantec's dividend payout ratio is 26.61%.

Analysts Set New Price Targets

STN has been the subject of a number of recent analyst reports. StockNews.com upgraded Stantec from a "buy" rating to a "strong-buy" rating in a research report on Friday. Scotiabank reissued an "outperform" rating on shares of Stantec in a research report on Wednesday, May 7th. Finally, Raymond James upgraded Stantec from a "market perform" rating to an "outperform" rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Stantec presently has a consensus rating of "Buy".

Stantec Profile

Stantec Inc provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally. It offers evaluation, planning, and designing infrastructure solutions; solutions for sustainable water resources, planning, management, and infrastructure; environmental services; integrated architecture, engineering, interior design, and planning solutions for buildings; and energy and resources solutions.