Forge First Asset Management Inc. Buys Shares of 44,579 Stantec Inc. (NYSE:STN)

Key Points

• Forge First Asset Management Inc. acquired a new stake in Stantec Inc., purchasing 44,579 shares valued at approximately $3.7 million, making it the firm's 24th biggest position.
• Stantec recently increased its quarterly dividend from $0.16 to $0.1612, representing a 0.6% dividend yield with a payout ratio of 27.27%.
• Stantec's stock has received positive ratings from analysts, with several firms upgrading their recommendations, resulting in a consensus rating of "Buy".

Forge First Asset Management Inc. purchased a new stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 44,579 shares of the business services provider's stock, valued at approximately $3,699,000. Stantec makes up approximately 1.6% of Forge First Asset Management Inc.'s holdings, making the stock its 24th largest holding.

Other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Stantec by 166.5% during the 4th quarter. Mackenzie Financial Corp now owns 22,342,818 shares of the business services provider's stock worth $1,751,093,000 after buying an additional 13,958,790 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Stantec during the fourth quarter worth about $56,191,000. The Manufacturers Life Insurance Company lifted its stake in shares of Stantec by 19.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,344,994 shares of the business services provider's stock worth $262,791,000 after acquiring an additional 542,305 shares in the last quarter. Bank of Montreal Can boosted its holdings in Stantec by 9.5% in the fourth quarter. Bank of Montreal Can now owns 3,496,408 shares of the business services provider's stock valued at $273,970,000 after purchasing an additional 302,979 shares during the last quarter. Finally, Royal Bank of Canada grew its stake 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 purchasing an additional 261,705 shares in the last quarter. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STN has been the subject of several research analyst reports. Scotiabank reiterated an "outperform" rating on shares of Stantec in a research note on Wednesday, May 7th. TD Securities reiterated a "buy" rating on shares of Stantec in a research note on Friday, May 16th. Royal Bank Of Canada reissued an "outperform" rating on shares of Stantec in a report on Friday, May 16th. Wall Street Zen upgraded shares of Stantec from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Finally, CIBC reiterated an "outperform" rating on shares of Stantec in a research note on Friday, July 18th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

Stantec Stock Performance

NYSE STN traded up $1.18 during trading hours on Monday, reaching $109.84. The company's stock had a trading volume of 55,893 shares, compared to its average volume of 161,997. The stock has a market cap of $12.53 billion, a PE ratio of 45.39 and a beta of 1.03. The business has a 50-day simple moving average of $108.13 and a 200 day simple moving average of $92.90. Stantec Inc. has a 52 week low of $73.18 and a 52 week high of $113.50. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.41.

Stantec (NYSE:STN - Get Free Report) TSE: STN last issued its quarterly earnings data on Wednesday, May 14th. The business services provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.54 billion. Stantec had a return on equity of 18.22% and a net margin of 5.01%. Equities research analysts predict that Stantec Inc. will post 3.05 earnings per share for the current fiscal year.

Stantec Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given 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 dividend yield of 0.6%. The ex-dividend date was Monday, June 30th. Stantec's payout ratio is presently 27.27%.

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.