Millennium Management LLC Grows Stake in Stantec Inc. (NYSE:STN)

Millennium Management LLC increased its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 68.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 301,833 shares of the business services provider's stock after buying an additional 122,814 shares during the period. Millennium Management LLC owned 0.26% of Stantec worth $23,672,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC grew its position in Stantec by 42.3% in the fourth quarter. Lazard Asset Management LLC now owns 28,568 shares of the business services provider's stock worth $2,240,000 after acquiring an additional 8,493 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Stantec in the fourth quarter worth approximately $56,191,000. Graham Capital Management L.P. bought a new stake in shares of Stantec in the 4th quarter worth approximately $207,000. Deutsche Bank AG boosted its stake in shares of Stantec by 13.4% in the 4th quarter. Deutsche Bank AG now owns 311,713 shares of the business services provider's stock valued at $24,454,000 after purchasing an additional 36,738 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Stantec during the 4th quarter valued at $1,191,000. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Price Performance

Shares of STN stock opened at $101.76 on Wednesday. Stantec Inc. has a one year low of $73.18 and a one year high of $103.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $11.61 billion, a P/E ratio of 46.25 and a beta of 0.98. The company's 50-day simple moving average is $87.37 and its two-hundred day simple moving average is $83.13.

Stantec (NYSE:STN - Get Free Report) TSE: STN last released its quarterly earnings results on Wednesday, May 14th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.02. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.54 billion. Stantec had a net margin of 4.78% and a return on equity of 16.57%. As a group, equities analysts anticipate 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 Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.1612 per share. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from Stantec's previous quarterly dividend of $0.16. This represents a $0.64 dividend on an annualized basis and a yield of 0.63%. Stantec's dividend payout ratio is currently 25.62%.

Analyst Ratings Changes

STN has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Stantec from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Scotiabank restated an "outperform" rating on shares of Stantec in a report on Wednesday, May 7th. Royal Bank of Canada reiterated an "outperform" rating on shares of Stantec in a report on Friday. Raymond James upgraded shares of Stantec from a "market perform" rating to an "outperform" rating in a research note on Wednesday, February 26th. Finally, TD Securities reaffirmed a "buy" rating on shares of Stantec in a report on Friday. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Stantec has a consensus 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.

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