Burgundy Asset Management Ltd. Sells 37,783 Shares of Stantec Inc. $STN

Key Points

• Burgundy Asset Management Ltd. has reduced its stock holdings in Stantec Inc. by 3.7%, now owning approximately 0.86% of the company, valued at $81 million.
• Several institutional investors have significantly increased their stakes in Stantec, with Mackenzie Financial Corp. increasing by 166.5% during the last quarter.
• Stantec has announced an increase in its quarterly dividend to $0.1635, with a dividend yield of 0.6% and a payout ratio of 24.09%.

Burgundy Asset Management Ltd. lowered its stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 3.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 976,338 shares of the business services provider's stock after selling 37,783 shares during the period. Burgundy Asset Management Ltd. owned 0.86% of Stantec worth $81,008,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC grew its position in shares of 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 buying an additional 424 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Stantec by 37.6% during 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. bought a new stake in shares of Stantec during the 1st quarter valued at about $85,000. Versant Capital Management Inc bought a new stake in shares of Stantec during the 1st quarter valued at about $97,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Stantec during the 1st quarter valued at about $99,000. Institutional investors own 63.86% of the company's stock.

Analyst Upgrades and Downgrades

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

Stantec Price Performance

Shares of NYSE:STN traded up $2.2050 during trading on Friday, reaching $110.3350. The company had a trading volume of 79,021 shares, compared to its average volume of 173,940. 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 firm's fifty day moving average is $108.96 and its 200 day moving average is $95.36. Stantec Inc. has a twelve month low of $73.18 and a twelve month high of $113.50. The firm has a market capitalization of $12.59 billion, a PE ratio of 40.27 and a beta of 1.03.

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

Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be paid a $0.1635 dividend. The ex-dividend date is Monday, September 29th. This represents a $0.65 annualized dividend and a yield of 0.6%. This is a boost from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio (DPR) is currently 24.09%.

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.