Canoe Financial LP Has $8.02 Million Position in Stantec Inc. $STN

Key Points

• Canoe Financial LP reduced its stake in Stantec Inc. by 3.1%, owning 73,673 shares after selling 2,386 shares.
• Stantec's recent quarterly earnings matched estimates, with an EPS of $0.98, but revenue fell short of analysts' expectations at $1.17 billion.
• The company announced an increased quarterly dividend of $0.1635, payable on October 15th, representing a dividend yield of 0.6%.

Canoe Financial LP cut its stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,673 shares of the business services provider's stock after selling 2,386 shares during the quarter. Canoe Financial LP owned approximately 0.06% of Stantec worth $8,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STN. Wealth Preservation Advisors LLC acquired a new position in shares of Stantec in the first quarter valued at about $26,000. Parallel Advisors LLC grew its stake in Stantec by 37.6% during the first quarter. Parallel Advisors LLC now owns 874 shares of the business services provider's stock worth $72,000 after buying an additional 239 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in Stantec during the first quarter worth about $85,000. Versant Capital Management Inc acquired a new stake in Stantec during the first quarter worth about $97,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Stantec during the first quarter worth about $99,000. 63.86% of the stock is currently owned by institutional investors and hedge funds.

Stantec Trading Up 2.2%

Stantec stock traded up $2.38 during mid-day trading on Monday, hitting $112.00. 129,403 shares of the stock were exchanged, compared to its average volume of 175,259. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.44. Stantec Inc. has a 12 month low of $73.18 and a 12 month high of $113.50. The firm's fifty day simple moving average is $109.41 and its two-hundred day simple moving average is $99.95. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of 40.87 and a beta of 1.06.

Stantec (NYSE:STN - Get Free Report) TSE: STN last released its quarterly earnings results on Wednesday, August 13th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. Stantec had a net margin of 5.62% and a return on equity of 19.03%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.64 billion. Stantec has set its FY 2025 guidance at 3.784-3.880 EPS. 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. Stockholders of record on Monday, September 29th will be given a dividend of $0.1635 per share. This is a positive change from Stantec's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Monday, September 29th. This represents a $0.65 annualized dividend and a dividend yield of 0.6%. Stantec's payout ratio is 23.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. CIBC reissued an "outperform" rating on shares of Stantec in a report on Friday, July 18th. Wall Street Zen cut shares of Stantec from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average 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.