Alliancebernstein L.P. Acquires 115,849 Shares of Stantec Inc. $STN

Key Points

• Alliancebernstein L.P. increased its holdings in Stantec Inc. by 6.5%, now owning approximately 1.66% of the company valued at $156,618,000.
• Stantec announced a quarterly dividend increase to $0.1635, with an ex-dividend date of September 29th, representing an annualized yield of 0.6%.
• The company reported earnings of $0.98 EPS, meeting analysts' expectations, with a revenue of $1.17 billion during the most recent quarter.

Alliancebernstein L.P. increased its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,890,608 shares of the business services provider's stock after acquiring an additional 115,849 shares during the quarter. Alliancebernstein L.P. owned about 1.66% of Stantec worth $156,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in Stantec by 8.6% in the first quarter. Advisors Asset Management Inc. now owns 50,011 shares of the business services provider's stock worth $4,143,000 after acquiring an additional 3,975 shares during the period. PDT Partners LLC lifted its position in Stantec by 159.8% during the first quarter. PDT Partners LLC now owns 21,838 shares of the business services provider's stock valued at $1,809,000 after buying an additional 13,432 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Stantec during the first quarter valued at $3,272,000. Royal Bank of Canada lifted its position in Stantec by 0.3% during the first quarter. Royal Bank of Canada now owns 3,017,230 shares of the business services provider's stock valued at $249,946,000 after buying an additional 8,268 shares during the period. Finally, Vident Advisory LLC lifted its position in Stantec by 42.5% during the first quarter. Vident Advisory LLC now owns 4,081 shares of the business services provider's stock valued at $338,000 after buying an additional 1,218 shares during the period. Hedge funds and other institutional investors own 63.86% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on STN. TD Securities reissued a "buy" rating on shares of Stantec in a research report on Friday, May 16th. Royal Bank Of Canada reissued an "outperform" rating on shares of Stantec in a research report on Friday, May 16th. CIBC reissued an "outperform" rating on shares of Stantec in a research report on Friday, July 18th. Finally, Wall Street Zen lowered Stantec from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy".

Stantec Stock Up 0.6%

Shares of STN traded up $0.60 during trading hours on Wednesday, hitting $108.27. The company had a trading volume of 43,212 shares, compared to its average volume of 172,892. The firm has a fifty day moving average price of $109.36 and a 200-day moving average price of $98.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 39.52 and a beta of 1.07. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $113.50.

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

Stantec Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be issued a $0.1635 dividend. This represents a $0.65 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, September 29th. This is a positive change from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio is 23.36%.

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.