Addenda Capital Inc. Sells 22,162 Shares of Stantec Inc. $STN

Key Points

• Addenda Capital Inc. reduced its stake in Stantec Inc. by 20.5%, selling 22,162 shares in the second quarter, and now holds approximately 0.08% of the company worth about $9.33 million.
• Stantec recently announced a quarterly dividend increase to $0.1635 per share, reflecting a 0.6% dividend yield, with the ex-dividend date set for September 29th.
• Despite a 1.2% decline in Stantec's stock on a recent trading day, analysts maintain a consensus rating of "Buy" for the shares, with several firms providing upgrades and downgrades in recent reports.

Addenda Capital Inc. lessened its position in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 20.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,861 shares of the business services provider's stock after selling 22,162 shares during the quarter. Addenda Capital Inc. owned approximately 0.08% of Stantec worth $9,331,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in shares of Stantec during the 1st quarter worth approximately $26,000. Parallel Advisors LLC increased its stake in Stantec by 37.6% in the 1st quarter. Parallel Advisors LLC now owns 874 shares of the business services provider's stock valued at $72,000 after buying an additional 239 shares during the last quarter. GHP Investment Advisors Inc. acquired a new stake in Stantec in the 1st quarter valued at $85,000. Versant Capital Management Inc bought a new stake in Stantec during the 1st quarter worth about $97,000. Finally, Banque Cantonale Vaudoise acquired a new position in Stantec during the first quarter valued at approximately $99,000. Institutional investors and hedge funds own 63.86% of the company's stock.

Analyst Upgrades and Downgrades

STN has been the topic of several recent analyst reports. CIBC reaffirmed an "outperform" rating on shares of Stantec in a research report on Friday, July 18th. Wall Street Zen downgraded shares of Stantec from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy".

Stantec Stock Down 1.2%

Stantec stock opened at $106.16 on Friday. The stock has a market cap of $12.11 billion, a P/E ratio of 38.74 and a beta of 1.06. The company's 50-day moving average price is $109.08 and its two-hundred day moving average price is $100.72. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.44. Stantec Inc. has a twelve month low of $73.18 and a twelve month high of $113.50.

Stantec (NYSE:STN - Get Free Report) TSE: STN last released its quarterly earnings results on Wednesday, August 13th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. Stantec had a return on equity of 19.03% and a net margin of 5.62%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.64 billion. Stantec has set its FY 2025 guidance at 3.784-3.880 EPS. As a group, analysts expect that Stantec Inc. will post 3.05 EPS for the current year.

Stantec Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be given a dividend of $0.1635 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, September 29th. This is a boost from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio (DPR) is currently 23.72%.

Stantec Company 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.

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