D. E. Shaw & Co. Inc. lessened its position in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 64.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,800 shares of the business services provider's stock after selling 19,200 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Stantec were worth $847,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Stantec by 1.7% during 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 in the last quarter. Bank of Montreal Can increased its stake 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 period. The Manufacturers Life Insurance Company raised its position in shares of 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 worth $262,791,000 after buying an additional 542,305 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Stantec by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,774,759 shares of the business services provider's stock valued at $139,230,000 after acquiring an additional 14,332 shares in the last quarter. Institutional investors and hedge funds own 63.86% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Raymond James upgraded Stantec from a "market perform" rating to an "outperform" rating in a research report on Wednesday, February 26th. Scotiabank restated an "outperform" rating on shares of Stantec in a report on Wednesday, May 7th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Stantec in a report on Friday, May 16th. TD Securities reiterated a "buy" rating on shares of Stantec in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Stantec from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy".
Read Our Latest Report on Stantec
Stantec Trading Down 0.3%
NYSE STN traded down $0.30 on Thursday, hitting $103.65. 135,769 shares of the company were exchanged, compared to its average volume of 145,283. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. Stantec Inc. has a twelve month low of $73.18 and a twelve month high of $104.49. The firm has a market capitalization of $11.82 billion, a P/E ratio of 47.11 and a beta of 0.98. The company's 50 day moving average price is $90.06 and its 200-day moving average price is $84.06.
Stantec (NYSE:STN - Get Free Report) TSE: STN last released its earnings results on Wednesday, May 14th. The business services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.02. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.54 billion. Stantec had a net margin of 4.78% and a return on equity of 16.57%. Analysts predict that Stantec Inc. will post 3.05 earnings per share for the current fiscal year.
Stantec Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.1612 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio is presently 25.62%.
About Stantec
(
Free Report)
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.
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