Avantax Advisory Services Inc. Purchases 3,029 Shares of Stantec Inc. (NYSE:STN)

Key Points

• Avantax Advisory Services Inc. increased its holdings in Stantec Inc. by 17.2% during the 1st quarter, acquiring an additional 3,029 shares, which brought its total shares to 20,686, valued at approximately $1,714,000.
• Stantec declared a quarterly dividend of $0.1612 per share, which is an increase from its previous dividend of $0.16, reflecting a 0.6% yield.
• The company's latest quarterly earnings report showed an earnings per share of $0.81, exceeding the consensus estimate, with revenues of $1.08 billion compared to the estimated $1.54 billion.

Avantax Advisory Services Inc. raised its position in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 17.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,686 shares of the business services provider's stock after purchasing an additional 3,029 shares during the period. Avantax Advisory Services Inc.'s holdings in Stantec were worth $1,714,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in Stantec in the 1st quarter valued at $381,000. Jennison Associates LLC boosted its holdings in Stantec by 5.5% in the 1st quarter. Jennison Associates LLC now owns 108,992 shares of the business services provider's stock valued at $9,038,000 after purchasing an additional 5,688 shares during the period. Signaturefd LLC boosted its holdings in Stantec by 24.4% in the 1st quarter. Signaturefd LLC now owns 5,027 shares of the business services provider's stock valued at $416,000 after purchasing an additional 986 shares during the period. ELCO Management Co. LLC boosted its holdings in Stantec by 9.8% in the 1st quarter. ELCO Management Co. LLC now owns 7,337 shares of the business services provider's stock valued at $608,000 after purchasing an additional 653 shares during the period. Finally, Genus Capital Management Inc. boosted its holdings in Stantec by 117.1% in the 1st quarter. Genus Capital Management Inc. now owns 7,949 shares of the business services provider's stock valued at $659,000 after purchasing an additional 54,418 shares during the period. 63.86% of the stock is owned by institutional investors.

Stantec Stock Performance

NYSE STN opened at $109.35 on Friday. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $113.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $12.47 billion, a P/E ratio of 45.19 and a beta of 1.03. The company has a fifty day moving average of $107.84 and a 200-day moving average of $92.25.

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

Stantec Increases Dividend

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

Wall Street Analyst Weigh In

STN has been the subject of several analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Stantec in a report on Friday, May 16th. Scotiabank reaffirmed an "outperform" rating on shares of Stantec in a report on Wednesday, May 7th. Wall Street Zen raised shares of Stantec from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. TD Securities reaffirmed a "buy" rating on shares of Stantec in a report on Friday, May 16th. Finally, CIBC reaffirmed an "outperform" rating on shares of Stantec in a report on Friday, July 18th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Stantec has a consensus rating of "Buy".

About Stantec

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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