Burgundy Asset Management Ltd. Trims Position in Stantec Inc. (NYSE:STN)

Burgundy Asset Management Ltd. lowered its stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,014,121 shares of the business services provider's stock after selling 5,341 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.89% of Stantec worth $79,487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of STN. Vanguard Group Inc. lifted its position in Stantec by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 4,575,078 shares of the business services provider's stock valued at $358,951,000 after purchasing an additional 74,976 shares during the last quarter. Bank of Montreal Can raised its holdings in Stantec by 9.5% during the 4th quarter. Bank of Montreal Can now owns 3,496,408 shares of the business services provider's stock valued at $273,970,000 after buying an additional 302,979 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Stantec by 19.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,344,994 shares of the business services provider's stock valued at $262,791,000 after buying an additional 542,305 shares during the period. Royal Bank of Canada boosted its position in Stantec by 9.5% during the 4th quarter. Royal Bank of Canada now owns 3,008,962 shares of the business services provider's stock valued at $236,055,000 after buying an additional 261,705 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Stantec by 11.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider's stock worth $155,433,000 after acquiring an additional 207,470 shares during the last quarter. Institutional investors own 63.86% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on STN shares. TD Securities reiterated a "buy" rating on shares of Stantec in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Stantec from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Raymond James upgraded shares of Stantec from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 26th. Scotiabank reaffirmed an "outperform" rating on shares of Stantec in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Stantec in a research report on Friday, May 16th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy".

Stantec Stock Up 0.9%

Shares of Stantec stock traded up $0.97 during trading on Wednesday, hitting $104.39. The company's stock had a trading volume of 73,342 shares, compared to its average volume of 144,713. Stantec Inc. has a 52 week low of $73.18 and a 52 week high of $104.47. The company has a market capitalization of $11.91 billion, a PE ratio of 47.45 and a beta of 0.98. The company has a fifty day simple moving average of $89.21 and a two-hundred day simple moving average of $83.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42.

Stantec (NYSE:STN - Get Free Report) TSE: STN last released its earnings results on Wednesday, May 14th. The business services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.79 by $0.02. Stantec had a return on equity of 16.57% and a net margin of 4.78%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.54 billion. Equities research analysts predict that Stantec Inc. will post 3.05 earnings per share for the current year.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.1612 dividend. The ex-dividend date is 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 dividend yield of 0.62%. Stantec's payout ratio is currently 25.62%.

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.