BlackRock Inc. Acquires Shares of 384,476 Stantec Inc. $STN

Key Points

• BlackRock acquired 384,476 Stantec shares in the second quarter, worth approximately $26.5 million and representing about 0.34% of the company. Several other institutional investors also initiated positions, with institutions collectively owning 63.86% of Stantec.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $175.
• Stantec slightly exceeded quarterly EPS expectations at $1.16 versus $1.15, while reporting $1.25 billion in revenue. The company also declared a quarterly dividend of $0.245 per share, equivalent to a 1.3% annualized yield.

BlackRock Inc. bought a new stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 384,476 shares of the business services provider's stock, valued at approximately $26,494,000. BlackRock Inc. owned about 0.34% of Stantec as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in STN. Pallas Capital Advisors LLC acquired a new position in Stantec in the 2nd quarter valued at about $424,000. Deutsche Bank AG purchased a new position in shares of Stantec in the 2nd quarter valued at approximately $18,319,000. Perigon Wealth Management LLC purchased a new position in shares of Stantec in the 2nd quarter valued at approximately $285,000. Plato Investment Management Ltd acquired a new position in shares of Stantec in the second quarter valued at approximately $1,247,000. Finally, Alberta Investment Management Corp acquired a new position in shares of Stantec in the second quarter valued at approximately $36,311,000. Institutional investors and hedge funds own 63.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings downgraded Stantec from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Stantec in a research note on Friday, August 14th. ATB Cormark Capital Markets upgraded shares of Stantec from a "hold" rating to a "moderate buy" rating in a research report on Friday, May 15th. Wall Street Zen cut shares of Stantec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, Zacks Research downgraded shares of Stantec from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $175.00.

Stantec Price Performance

Shares of NYSE STN opened at $72.76 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 1.50. Stantec Inc. has a one year low of $66.26 and a one year high of $114.51. The firm has a market capitalization of $8.18 billion, a P/E ratio of 22.67 and a beta of 0.99. The company's fifty day moving average is $71.29 and its two-hundred day moving average is $79.46.

Stantec (NYSE:STN - Get Free Report) TSE: STN last announced its quarterly earnings results on Wednesday, August 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. Stantec had a net margin of 5.91% and a return on equity of 19.70%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. Stantec has set its FY 2026 guidance at 4.370-4.490 EPS. Analysts forecast that Stantec Inc. will post 4.46 EPS for the current fiscal year.

Stantec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 29th. Stantec's dividend payout ratio (DPR) is presently 21.50%.

About Stantec

Stantec is a global design and consulting firm offering professional services in engineering, architecture, and environmental sciences. The company partners with public and private clients to deliver solutions spanning infrastructure, water, energy and resources, and community development. Through an integrated approach, Stantec manages projects from initial planning and conceptual design through construction and commissioning, focusing on sustainability and innovation.

The firm's service portfolio includes civil infrastructure design, building systems engineering, environmental assessments, and project management.

Want to see what other hedge funds are holding STN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stantec Inc. (NYSE:STN - Free Report) TSE: STN.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source