Louisbourg Investments Inc. Trims Position in Stantec Inc. $STN

Key Points

• Louisbourg Investments Inc. has reduced its stake in Stantec Inc. by 56.5%, bringing its holdings down to 25,826 shares, valued at $2.8 million.
• Stantec recently announced a quarterly dividend increase to $0.1635 per share, with the ex-dividend date set for September 29th.
• Research analysts have given Stantec an average rating of "Buy," although Wall Street Zen downgraded it from "strong-buy" to "buy" recently.

Louisbourg Investments Inc. lessened its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 56.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,826 shares of the business services provider's stock after selling 33,539 shares during the period. Louisbourg Investments Inc.'s holdings in Stantec were worth $2,805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of STN. Triasima Portfolio Management inc. purchased a new stake in Stantec in the 2nd quarter valued at about $3,727,000. Canopy Partners LLC raised its holdings in Stantec by 3.8% in the 2nd quarter. Canopy Partners LLC now owns 2,876 shares of the business services provider's stock valued at $313,000 after buying an additional 104 shares during the period. Shell Asset Management Co. raised its holdings in Stantec by 27.6% in the 2nd quarter. Shell Asset Management Co. now owns 31,192 shares of the business services provider's stock valued at $3,387,000 after buying an additional 6,756 shares during the period. EWA LLC purchased a new stake in Stantec in the 2nd quarter valued at about $243,000. Finally, Union Bancaire Privee UBP SA raised its holdings in Stantec by 71.6% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 37,222 shares of the business services provider's stock valued at $4,045,000 after buying an additional 15,526 shares during the period. Hedge funds and other institutional investors own 63.86% of the company's stock.

Analysts Set New Price Targets

STN has been the topic of several research analyst reports. Wall Street Zen lowered shares of Stantec from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. CIBC restated an "outperform" rating on shares of Stantec in a report on Friday, July 18th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Stantec in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Stantec has an average rating of "Buy".

Stantec Stock Down 1.5%

Shares of NYSE:STN opened at $109.48 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $12.49 billion, a PE ratio of 39.96 and a beta of 1.04. The firm's 50-day moving average is $109.03 and its two-hundred day moving average is $102.46. Stantec Inc. has a 1 year low of $73.18 and a 1 year high of $113.52.

Stantec (NYSE:STN - Get Free Report) TSE: STN last issued its quarterly earnings results on Wednesday, August 13th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.98. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.64 billion. Stantec had a net margin of 5.62% and a return on equity of 19.03%. Stantec has set its FY 2025 guidance at 3.784-3.880 EPS. Analysts predict that Stantec Inc. will post 3.05 EPS for the current year.

Stantec Increases Dividend

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

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.

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