Magnetar Financial LLC Acquires New Holdings 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 purchased a new stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,499 shares of the business services provider's stock, valued at approximately $539,000.

Several other institutional investors have also recently added to or reduced their stakes in STN. Envestnet Asset Management Inc. bought a new position in Stantec during the 4th quarter valued at about $205,000. Mariner LLC lifted its holdings in Stantec by 4.2% during the 4th quarter. Mariner LLC now owns 4,880 shares of the business services provider's stock valued at $383,000 after purchasing an additional 195 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Stantec by 13.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 263,845 shares of the business services provider's stock valued at $20,699,000 after purchasing an additional 30,629 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Stantec by 632.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 491 shares of the business services provider's stock valued at $39,000 after purchasing an additional 424 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Stantec by 108.4% in the fourth quarter. Northern Trust Corp now owns 13,530 shares of the business services provider's stock worth $1,061,000 after acquiring an additional 7,039 shares during the last quarter. 63.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on STN shares. TD Securities reaffirmed a "buy" rating on shares of Stantec in a research note on Friday, May 16th. CIBC reaffirmed an "outperform" rating on shares of Stantec in a research note on Friday, July 18th. Scotiabank reaffirmed an "outperform" rating on shares of Stantec in a research note on Wednesday, May 7th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Stantec in a research note on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Stantec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy".

Stantec Trading Up 0.5%

Shares of STN traded up $0.52 on Thursday, reaching $109.29. 99,074 shares of the company's stock were exchanged, compared to its average volume of 172,980. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $12.47 billion, a P/E ratio of 39.89 and a beta of 1.06. The business has a 50 day moving average price of $109.41 and a two-hundred day moving average price of $97.35. Stantec Inc. has a 12 month low of $73.18 and a 12 month high of $113.50.

Stantec (NYSE:STN - Get Free Report) TSE: STN last posted its quarterly earnings results on Wednesday, August 13th. The business services provider reported $0.98 earnings per share for the quarter, hitting analysts' consensus estimates of $0.98. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate 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. Research analysts anticipate that Stantec Inc. will post 3.05 earnings per share for the current year.

Stantec Increases Dividend

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