Forsta AP Fonden Has $597,000 Position in Stantec Inc. (NYSE:STN)

Key Points

• Forsta AP Fonden reduced its stake in Stantec Inc. by 61.3% in the first quarter, now holding 7,200 shares valued at $597,000.
• Stantec recently declared a quarterly dividend of $0.1612 per share, increasing from the previous $0.16 and indicating a dividend yield of 0.6%.
• Several institutional investors raised their positions in Stantec, with holdings now constituting 63.86% of the company’s stock.

Forsta AP Fonden lessened its stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 61.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,200 shares of the business services provider's stock after selling 11,400 shares during the quarter. Forsta AP Fonden's holdings in Stantec were worth $597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STN. Mackenzie Financial Corp increased its holdings in shares of Stantec by 166.5% in the fourth quarter. Mackenzie Financial Corp now owns 22,342,818 shares of the business services provider's stock worth $1,751,093,000 after acquiring an additional 13,958,790 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Stantec in the fourth quarter valued at approximately $56,191,000. The Manufacturers Life Insurance Company lifted its position 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 valued at $262,791,000 after buying an additional 542,305 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Stantec by 9.5% in the fourth 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 last quarter. Finally, Intact Investment Management Inc. lifted its position in shares of Stantec by 781.2% in the first quarter. Intact Investment Management Inc. now owns 186,118 shares of the business services provider's stock valued at $15,429,000 after buying an additional 164,998 shares during the last quarter. Institutional investors own 63.86% of the company's stock.

Stantec Price Performance

Stantec stock traded up $0.29 during midday trading on Friday, reaching $106.41. The company's stock had a trading volume of 279,048 shares, compared to its average volume of 204,170. 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 1.44, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $108.91 and a 200-day moving average price of $94.65. The stock has a market cap of $12.14 billion, a PE ratio of 38.84 and a beta of 1.03.

Stantec (NYSE:STN - Get Free Report) TSE: STN last released its earnings results on Wednesday, August 13th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.98. Stantec had a return on equity of 19.03% and a net margin of 5.62%. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.64 billion. On average, sell-side analysts predict that Stantec Inc. will post 3.05 EPS for the current year.

Stantec Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be paid a $0.1635 dividend. This is an increase from Stantec's previous quarterly dividend of $0.16. This represents a $0.65 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 29th. Stantec's payout ratio is currently 24.09%.

Analysts Set New Price Targets

STN has been the subject of a number of recent analyst reports. Wall Street Zen cut Stantec from a "strong-buy" rating to a "buy" rating in a research report on Saturday. CIBC reaffirmed an "outperform" rating on shares of Stantec in a research note on Friday, July 18th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Stantec in a research note on Friday, May 16th. TD Securities reaffirmed a "buy" rating on shares of Stantec in a research note on Friday, May 16th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Stantec in a research note on Wednesday, May 7th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy".

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.