Alberta Investment Management Corp Purchases 48,954 Shares of Stantec Inc. (NYSE:STN)

Key Points

• Alberta Investment Management Corp increased its stake in Stantec Inc. by 6.7%, owning approximately 781,609 shares valued at $64.8 million as of its latest SEC filing.
• Stantec recently announced a quarterly dividend of $0.1612, representing an increase from its previous payment, with a yield of 0.6%.
• Wall Street analysts have a positive outlook on Stantec, with most recommending it as a buy, and some raising their ratings to strong buy status.

Alberta Investment Management Corp grew its position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 781,609 shares of the business services provider's stock after acquiring an additional 48,954 shares during the quarter. Alberta Investment Management Corp owned about 0.69% of Stantec worth $64,777,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of STN. Tower Research Capital LLC TRC increased its stake in Stantec by 632.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 491 shares of the business services provider's stock valued at $39,000 after purchasing an additional 424 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Stantec by 37.6% during the first 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. bought a new stake in shares of Stantec during the first quarter worth about $85,000. Versant Capital Management Inc acquired a new stake in shares of Stantec in the 1st quarter worth about $97,000. Finally, Banque Cantonale Vaudoise bought a new position in Stantec in the 1st quarter valued at about $99,000. 63.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STN has been the subject of a number of recent research reports. Scotiabank reissued an "outperform" rating on shares of Stantec in a report on Wednesday, May 7th. Wall Street Zen raised Stantec from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. TD Securities restated a "buy" rating on shares of Stantec in a research note on Friday, May 16th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Stantec in a research note on Friday, May 16th. Finally, CIBC reissued an "outperform" rating on shares of Stantec in a research report on Friday, July 18th. Seven investment 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.com, the company currently has an average rating of "Buy".

Stantec Stock Performance

Shares of STN opened at $109.35 on Friday. The stock has a 50 day moving average of $107.84 and a 200 day moving average of $92.25. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 45.19 and a beta of 1.03. Stantec Inc. has a 12 month low of $73.18 and a 12 month high of $113.50. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.41.

Stantec (NYSE:STN - Get Free Report) TSE: STN last announced its earnings results on Wednesday, May 14th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.54 billion. Stantec had a return on equity of 18.22% and a net margin of 5.01%. As a group, sell-side analysts forecast that Stantec Inc. will post 3.05 earnings per share for the current year.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.1612 dividend. The ex-dividend date was Monday, June 30th. This is a positive change from Stantec's previous quarterly dividend of $0.16. This represents a $0.64 dividend on an annualized basis and a yield of 0.6%. Stantec's dividend payout ratio is presently 27.27%.

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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