Bank of America Corp DE increased its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 544,507 shares of the business services provider's stock after acquiring an additional 57,166 shares during the quarter. Bank of America Corp DE owned approximately 0.48% of Stantec worth $42,717,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of STN. Barclays PLC lifted its stake in shares of Stantec by 73.2% in the third quarter. Barclays PLC now owns 31,001 shares of the business services provider's stock worth $2,493,000 after acquiring an additional 13,107 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Stantec by 1.9% in the third quarter. Principal Financial Group Inc. now owns 278,480 shares of the business services provider's stock worth $22,419,000 after acquiring an additional 5,150 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Stantec in the fourth quarter worth about $531,000. Canoe Financial LP lifted its stake in shares of Stantec by 1,011.1% in the fourth quarter. Canoe Financial LP now owns 83,755 shares of the business services provider's stock worth $6,567,000 after acquiring an additional 76,217 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Stantec by 78.4% during the fourth quarter. Blue Trust Inc. now owns 1,739 shares of the business services provider's stock valued at $140,000 after buying an additional 764 shares in the last quarter. Institutional investors and hedge funds own 63.86% of the company's stock.
Wall Street Analyst Weigh In
STN has been the topic of several research reports. StockNews.com upgraded Stantec from a "buy" rating to a "strong-buy" rating in a research note on Friday. Raymond James upgraded Stantec from a "market perform" rating to an "outperform" rating in a research note on Wednesday, February 26th. Finally, Scotiabank restated an "outperform" rating on shares of Stantec in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Stantec presently has a consensus rating of "Buy".
Check Out Our Latest Stock Report on STN
Stantec Stock Performance
Shares of NYSE:STN traded up $1.67 during trading on Friday, hitting $101.20. 325,935 shares of the company traded hands, compared to its average volume of 141,590. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 46.00 and a beta of 0.98. The business's fifty day moving average is $86.56 and its 200-day moving average is $82.85. Stantec Inc. has a one year low of $73.18 and a one year high of $101.81. 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 posted its earnings results on Wednesday, May 14th. The business services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.79 by $0.02. Stantec had a return on equity of 16.57% and a net margin of 4.78%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, equities analysts predict that Stantec Inc. will post 3.05 earnings per share for the current fiscal year.
Stantec Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.1612 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Stantec's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Monday, June 30th. Stantec's dividend payout ratio is 26.61%.
About Stantec
(
Free Report)
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.
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