Magnetar Financial LLC Makes New $539,000 Investment in Stantec Inc. $STN

Key Points

• Magnetar Financial LLC has acquired 6,499 shares of Stantec Inc. (NYSE: STN), valued at approximately $539,000, during the first quarter.
• Stantec Inc. announced a quarterly dividend of $0.1635 per share, representing an annual yield of 0.6%, up from its previous dividend of $0.16.
• Several large investors, including the Canada Pension Plan Investment Board and BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp, have recently increased their holdings in Stantec, highlighting strong interest among institutional investors.

Magnetar Financial LLC bought a new position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,499 shares of the business services provider's stock, valued at approximately $539,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STN. Mackenzie Financial Corp lifted its holdings in Stantec by 166.5% during 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 bought a new position in Stantec during the fourth quarter worth about $56,191,000. Royal Bank of Canada lifted its holdings in Stantec by 9.5% during the fourth quarter. Royal Bank of Canada now owns 3,008,962 shares of the business services provider's stock worth $236,055,000 after acquiring an additional 261,705 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in Stantec by 781.2% during the first quarter. Intact Investment Management Inc. now owns 186,118 shares of the business services provider's stock worth $15,429,000 after acquiring an additional 164,998 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Stantec by 68.6% during the fourth quarter. Millennium Management LLC now owns 301,833 shares of the business services provider's stock worth $23,672,000 after acquiring an additional 122,814 shares in the last quarter. 63.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STN shares. Wall Street Zen downgraded Stantec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. CIBC reissued an "outperform" rating on shares of Stantec in a research note on Friday, July 18th. Royal Bank Of Canada reissued an "outperform" rating on shares of Stantec in a research note on Friday, May 16th. Finally, TD Securities reissued a "buy" rating on shares of Stantec in a research note on Friday, May 16th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Stantec has a consensus rating of "Buy".

Stantec Stock Down 1.1%

Shares of NYSE:STN traded down $1.17 during midday trading on Friday, reaching $108.12. The company had a trading volume of 137,175 shares, compared to its average volume of 190,658. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.44. The business's 50 day moving average price is $109.40 and its 200 day moving average price is $97.92. The stock has a market cap of $12.33 billion, a PE ratio of 39.46 and a beta of 1.06. Stantec Inc. has a 1-year low of $73.18 and a 1-year high of $113.50.

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. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.64 billion. Stantec had a return on equity of 19.03% and a net margin of 5.62%. Stantec has set its FY 2025 guidance at 3.784-3.880 EPS. Research analysts forecast that Stantec Inc. will post 3.05 EPS for the current fiscal year.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be given a $0.1635 dividend. This is an increase 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 (DPR) is presently 23.36%.

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.