Burgundy Asset Management Ltd. Cuts Stock Holdings in Stantec Inc. (NYSE:STN)

Burgundy Asset Management Ltd. lowered its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 0.5% during the fourth quarter, according to 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 quarter. Burgundy Asset Management Ltd. owned 0.89% of Stantec worth $79,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Atria Investments Inc grew its stake in shares of Stantec by 4.3% during the fourth quarter. Atria Investments Inc now owns 3,650 shares of the business services provider's stock worth $286,000 after purchasing an additional 151 shares in the last quarter. Signaturefd LLC grew its stake in shares of Stantec by 4.5% during the fourth quarter. Signaturefd LLC now owns 4,041 shares of the business services provider's stock worth $317,000 after purchasing an additional 175 shares in the last quarter. Mariner LLC grew its stake in shares of Stantec by 4.2% during the fourth quarter. Mariner LLC now owns 4,880 shares of the business services provider's stock worth $383,000 after purchasing an additional 195 shares in the last quarter. US Bancorp DE grew its stake in shares of Stantec by 11.2% during the fourth quarter. US Bancorp DE now owns 2,359 shares of the business services provider's stock worth $185,000 after purchasing an additional 237 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Stantec by 8.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,739 shares of the business services provider's stock valued at $293,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 63.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on STN shares. TD Securities restated a "buy" rating on shares of Stantec in a research note on Friday, May 16th. Royal Bank of Canada restated an "outperform" rating on shares of Stantec in a research note on Friday, May 16th. Scotiabank restated an "outperform" rating on shares of Stantec in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Stantec from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Finally, Raymond James upgraded shares of Stantec from a "market perform" rating to an "outperform" rating in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy".

Stantec Stock Performance

Shares of NYSE:STN traded up $1.49 on Tuesday, reaching $103.32. The company's stock had a trading volume of 118,642 shares, compared to its average volume of 144,577. The stock's 50-day moving average is $88.82 and its two-hundred day moving average is $83.64. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $110.12. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $11.78 billion, a P/E ratio of 46.96 and a beta of 0.98.

Stantec (NYSE:STN - Get Free Report) TSE: STN last announced its earnings results on Wednesday, May 14th. The business services provider reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.02. Stantec had a net margin of 4.78% and a return on equity of 16.57%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.54 billion. As a group, sell-side analysts forecast that Stantec Inc. will post 3.05 EPS for the current year.

Stantec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.1612 per share. This is a boost from Stantec's previous quarterly dividend of $0.16. This represents a $0.64 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Monday, June 30th. Stantec's dividend payout ratio is currently 25.62%.

Stantec Company 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.