Russell Investments Group Ltd. Has $34.63 Million Stock Position in Stantec Inc. $STN

Key Points

• Russell Investments Group Ltd. increased its stake in Stantec Inc. by 33.7%, acquiring an additional 105,448 shares during the first quarter, bringing their total holdings to 418,449 shares valued at approximately $34.6 million.
• Institutional investors collectively own 63.86% of Stantec, with significant increases in holdings reported from firms such as Mackenzie Financial Corp, which boosted its stake by 166.5%.
• Stantec has declared an increase in its quarterly dividend to $0.1635 per share, up from $0.16, with the payout expected on October 15th for stockholders of record as of September 29th.

Russell Investments Group Ltd. lifted its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 33.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 418,449 shares of the business services provider's stock after purchasing an additional 105,448 shares during the period. Russell Investments Group Ltd. owned 0.37% of Stantec worth $34,625,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in STN. Envestnet Asset Management Inc. bought a new stake in Stantec in the 4th quarter valued at $205,000. Barclays PLC boosted its stake in Stantec by 35.3% in the 4th quarter. Barclays PLC now owns 41,931 shares of the business services provider's stock valued at $3,289,000 after purchasing an additional 10,930 shares during the period. Mariner LLC grew its holdings in Stantec by 4.2% in the 4th quarter. Mariner LLC now owns 4,880 shares of the business services provider's stock valued at $383,000 after buying an additional 195 shares in the last quarter. XTX Topco Ltd increased its position in Stantec by 41.2% during the 4th quarter. XTX Topco Ltd now owns 5,878 shares of the business services provider's stock worth $461,000 after buying an additional 1,715 shares during the period. Finally, Marshall Wace LLP increased its position in Stantec by 132.6% during the 4th quarter. Marshall Wace LLP now owns 52,038 shares of the business services provider's stock worth $4,082,000 after buying an additional 29,667 shares during the period. Institutional investors and hedge funds own 63.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STN. CIBC restated an "outperform" rating on shares of Stantec in a research note on Friday, July 18th. TD Securities reaffirmed a "buy" rating on shares of Stantec in a report on Friday, May 16th. Scotiabank reiterated an "outperform" rating on shares of Stantec in a research report on Wednesday, May 7th. Wall Street Zen downgraded Stantec from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Stantec in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Stantec Price Performance

Shares of Stantec stock traded down $0.19 during trading on Monday, reaching $106.04. 65,328 shares of the company's stock were exchanged, compared to its average volume of 174,032. The firm's 50-day moving average price is $108.91 and its 200 day moving average price is $94.76. The company has a market cap of $12.10 billion, a P/E ratio of 38.62 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.44 and a current ratio of 1.44. 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 posted its earnings results on Wednesday, August 13th. The business services provider reported $0.98 EPS for the quarter, hitting analysts' consensus estimates of $0.98. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.64 billion. Stantec had a net margin of 5.62% and a return on equity of 19.03%. As a group, research analysts anticipate that Stantec Inc. will post 3.05 earnings per share for the current year.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be given a $0.1635 dividend. This is a boost from Stantec's previous quarterly dividend of $0.16. This represents a $0.65 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, September 29th. Stantec's dividend payout ratio is 24.09%.

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.