Mackenzie Financial Corp Trims Holdings in Stantec Inc. (NYSE:STN)

Key Points

• Mackenzie Financial Corp reduced its stake in Stantec Inc. by 2.8% during the first quarter, now holding approximately 6.08% of the company valued at $574.9 million.
• Stantec has an average analyst rating of "Buy," with multiple upgrades from firms like Scotiabank and CIBC, reflecting positive market sentiment.
• The company recently increased its quarterly dividend to $0.1612, representing an annualized yield of 0.58%, up from the previous quarterly dividend of $0.16.

Mackenzie Financial Corp trimmed its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,936,608 shares of the business services provider's stock after selling 202,800 shares during the period. Stantec comprises 0.8% of Mackenzie Financial Corp's holdings, making the stock its 28th largest position. Mackenzie Financial Corp owned approximately 6.08% of Stantec worth $574,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STN. TD Asset Management Inc grew its holdings in Stantec by 2.5% in the first quarter. TD Asset Management Inc now owns 1,049,248 shares of the business services provider's stock valued at $86,958,000 after purchasing an additional 25,846 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of Stantec by 17.2% in the first quarter. Avantax Advisory Services Inc. now owns 20,686 shares of the business services provider's stock worth $1,714,000 after acquiring an additional 3,029 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Stantec in the first quarter worth approximately $381,000. Jennison Associates LLC boosted its stake in shares of Stantec by 5.5% in the first quarter. Jennison Associates LLC now owns 108,992 shares of the business services provider's stock worth $9,038,000 after acquiring an additional 5,688 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Stantec by 24.4% in the first quarter. Signaturefd LLC now owns 5,027 shares of the business services provider's stock worth $416,000 after acquiring an additional 986 shares during the last quarter. 63.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on STN shares. Scotiabank reissued an "outperform" rating on shares of Stantec in a research note on Wednesday, May 7th. CIBC restated an "outperform" rating on shares of Stantec in a research report on Friday, July 18th. Royal Bank Of Canada restated an "outperform" rating on shares of Stantec in a research report on Friday, May 16th. Wall Street Zen upgraded Stantec from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Finally, TD Securities restated a "buy" rating on shares of Stantec in a research report on Friday, May 16th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Stantec presently has an average rating of "Buy".

Stantec Stock Performance

Shares of STN stock opened at $110.31 on Monday. The stock has a market cap of $12.58 billion, a PE ratio of 45.58 and a beta of 1.03. Stantec Inc. has a 1 year low of $73.18 and a 1 year high of $113.50. The stock has a fifty day moving average price of $107.19 and a 200 day moving average price of $91.55. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.38 and a current ratio of 1.38.

Stantec (NYSE:STN - Get Free Report) TSE: STN last announced its quarterly earnings data on Wednesday, May 14th. The business services provider reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.02. The business 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%. Sell-side analysts forecast that Stantec Inc. will post 3.05 earnings per share for the current fiscal year.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.1612 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.58%. This is a boost from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio (DPR) 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.

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