Stantec Inc. (NYSE:STN) Shares Sold by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. has reduced its holdings in Stantec Inc. by 1.0%, now owning approximately 399,115 shares worth $33.08 million.
• Stantec's recent earnings report showed an EPS of $0.81, surpassing estimates, and the firm announced a quarterly dividend increase to $0.1612.
• Analysts maintain a consensus rating of "Buy" for Stantec, with several firms issuing "outperform" ratings in recent reports.

Jupiter Asset Management Ltd. reduced its holdings in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,115 shares of the business services provider's stock after selling 3,984 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.35% of Stantec worth $33,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its position in shares of Stantec by 166.5% in the 4th quarter. Mackenzie Financial Corp now owns 22,342,818 shares of the business services provider's stock valued at $1,751,093,000 after purchasing an additional 13,958,790 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Stantec by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 4,575,078 shares of the business services provider's stock valued at $358,951,000 after acquiring an additional 74,976 shares during the period. Bank of Montreal Can raised its stake in Stantec by 9.5% in the 4th quarter. Bank of Montreal Can now owns 3,496,408 shares of the business services provider's stock worth $273,970,000 after acquiring an additional 302,979 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in 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 acquiring an additional 542,305 shares during the period. 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 during the last quarter. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Stock Performance

Shares of NYSE:STN traded up $1.18 during midday trading on Monday, hitting $109.84. The stock had a trading volume of 55,893 shares, compared to its average volume of 161,997. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average price of $108.13 and a two-hundred day moving average price of $92.90. Stantec Inc. has a 1 year low of $73.18 and a 1 year high of $113.50. The company has a market capitalization of $12.53 billion, a PE ratio of 45.39 and a beta of 1.03.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.02. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.54 billion. Stantec had a net margin of 5.01% and a return on equity of 18.22%. As a group, equities 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. Shareholders of record on Monday, June 30th were issued a dividend of $0.1612 per share. The ex-dividend date was Monday, June 30th. This represents a $0.64 annualized dividend and a yield of 0.6%. This is a boost from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio (DPR) is presently 27.27%.

Wall Street Analyst Weigh In

STN has been the topic of several analyst reports. TD Securities reaffirmed a "buy" rating on shares of Stantec in a research report on Friday, May 16th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Stantec in a report on Friday, May 16th. CIBC reissued an "outperform" rating on shares of Stantec in a report on Friday, July 18th. Scotiabank reaffirmed an "outperform" rating on shares of Stantec in a report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Stantec from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Seven investment 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, Stantec currently has an average rating of "Buy".

Stantec 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.