Lazard Asset Management LLC Acquires 8,493 Shares of Stantec Inc. (NYSE:STN)

Lazard Asset Management LLC boosted its position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 42.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 28,568 shares of the business services provider's stock after purchasing an additional 8,493 shares during the quarter. Lazard Asset Management LLC's holdings in Stantec were worth $2,240,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STN. Norges Bank purchased a new stake in Stantec during the 4th quarter valued at about $110,221,000. Janus Henderson Group PLC purchased a new stake in Stantec during the 4th quarter valued at about $56,191,000. The Manufacturers Life Insurance Company grew 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 valued at $262,791,000 after purchasing an additional 542,305 shares during the last quarter. Bank of Montreal Can grew its position 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 purchasing an additional 302,979 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Stantec by 11.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider's stock valued at $155,433,000 after purchasing an additional 207,470 shares during the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

Stantec Stock Performance

Shares of NYSE STN traded up $1.23 during trading on Friday, reaching $101.94. 167,273 shares of the company traded hands, compared to its average volume of 144,496. The firm has a 50 day simple moving average of $88.46 and a 200-day simple moving average of $83.51. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $11.63 billion, a PE ratio of 46.34 and a beta of 0.98. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $103.32.

Stantec (NYSE:STN - Get Free Report) TSE: STN last announced its quarterly earnings results on Wednesday, May 14th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.02. Stantec had a net margin of 4.78% and a return on equity of 16.57%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.54 billion. Equities research analysts anticipate that Stantec Inc. will post 3.05 earnings per share for the current year.

Stantec Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.1612 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio is 25.62%.

Wall Street Analyst Weigh In

Several analysts recently commented on STN shares. Wall Street Zen raised shares of Stantec from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Raymond James raised shares of Stantec from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 26th. Scotiabank reaffirmed 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. Finally, TD Securities reaffirmed a "buy" rating on shares of Stantec in a report on Friday, May 16th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently 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.