Bank of Nova Scotia Trust Co. Sells 2,319 Shares of Stantec Inc. (NYSE:STN)

Key Points

• Bank of Nova Scotia Trust Co. reduced its holdings in Stantec Inc. by 4.1%, owning 54,738 shares valued at approximately $4.53 million after selling 2,319 shares in the first quarter.
• Stantec recently announced an increase in its quarterly dividend to $0.1612 per share, up from the previous $0.16, reflecting a positive change in its payout strategy.
• The company reported earnings per share of $0.81 for the most recent quarter, exceeding expectations, with revenue totaling $1.08 billion, lower than analyst estimates of $1.54 billion.

Bank of Nova Scotia Trust Co. lessened its position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,738 shares of the business services provider's stock after selling 2,319 shares during the quarter. Bank of Nova Scotia Trust Co.'s holdings in Stantec were worth $4,534,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Mariner LLC lifted its stake in shares of Stantec by 4.2% during the fourth quarter. Mariner LLC now owns 4,880 shares of the business services provider's stock valued at $383,000 after acquiring an additional 195 shares during the period. Parallel Advisors LLC lifted its stake in shares of Stantec by 37.6% during the first quarter. Parallel Advisors LLC now owns 874 shares of the business services provider's stock valued at $72,000 after acquiring an additional 239 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Stantec by 632.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 491 shares of the business services provider's stock valued at $39,000 after acquiring an additional 424 shares during the period. ELCO Management Co. LLC lifted its stake in shares of Stantec by 9.8% during the first quarter. ELCO Management Co. LLC now owns 7,337 shares of the business services provider's stock valued at $608,000 after acquiring an additional 653 shares during the period. Finally, Natixis lifted its stake in shares of Stantec by 114.8% during the fourth quarter. Natixis now owns 1,781 shares of the business services provider's stock valued at $140,000 after acquiring an additional 952 shares during the period. Institutional investors and hedge funds own 63.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on STN shares. Royal Bank Of Canada reissued an "outperform" rating on shares of Stantec in a research note on Friday, May 16th. TD Securities reissued a "buy" rating on shares of Stantec in a research note on Friday, May 16th. Wall Street Zen raised Stantec from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Scotiabank restated an "outperform" rating on shares of Stantec in a report on Wednesday, May 7th. Finally, CIBC restated an "outperform" rating on shares of Stantec in a report on Friday, July 18th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Stantec has a consensus rating of "Buy".

Stantec Stock Performance

NYSE:STN traded up $1.18 during mid-day trading on Monday, hitting $109.84. 55,893 shares of the stock were exchanged, compared to its average volume of 161,997. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 45.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.38 and a current ratio of 1.38. The firm's 50-day simple moving average is $108.13 and its 200 day simple moving average is $92.90. Stantec Inc. has a fifty-two week low of $73.18 and a fifty-two week high of $113.50.

Stantec (NYSE:STN - Get Free Report) TSE: STN last issued its quarterly earnings data on Wednesday, May 14th. The business services provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 18.22% and a net margin of 5.01%. As a group, equities analysts anticipate that Stantec Inc. will post 3.05 EPS for the current fiscal year.

Stantec Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.1612 per share. The ex-dividend date was Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.6%. This is an increase from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio 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.