Stantec Inc. (NYSE:STN) Shares Sold by Canoe Financial LP

Canoe Financial LP lowered its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 9.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,059 shares of the business services provider's stock after selling 7,696 shares during the period. Canoe Financial LP owned about 0.07% of Stantec worth $6,305,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of Stantec by 632.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 491 shares of the business services provider's stock worth $39,000 after purchasing an additional 424 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Stantec by 37.6% in the first quarter. Parallel Advisors LLC now owns 874 shares of the business services provider's stock worth $72,000 after acquiring an additional 239 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Stantec in the first quarter worth approximately $97,000. Natixis increased its position in shares of Stantec by 114.8% in the fourth quarter. Natixis now owns 1,781 shares of the business services provider's stock worth $140,000 after acquiring an additional 952 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Stantec by 11.2% in the fourth quarter. US Bancorp DE now owns 2,359 shares of the business services provider's stock worth $185,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 63.86% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Raymond James Financial raised shares of Stantec from a "market perform" rating to an "outperform" rating in a research report on Wednesday, February 26th. Scotiabank reissued an "outperform" rating on shares of Stantec in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Stantec from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. TD Securities reissued a "buy" rating on shares of Stantec in a research report on Friday, May 16th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Stantec in a research report on Friday, May 16th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy".

Stantec Stock Down 1.1%

Stantec stock opened at $105.19 on Friday. The firm has a market cap of $12.00 billion, a PE ratio of 43.47 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 moving average price is $97.41 and its two-hundred day moving average price is $86.39. Stantec Inc. has a twelve month low of $73.18 and a twelve month high of $108.34.

Stantec (NYSE:STN - Get Free Report) TSE: STN last released its quarterly earnings data on Wednesday, May 14th. The business services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.02. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.54 billion. Stantec had a net margin of 5.01% and a return on equity of 18.22%. On average, research analysts predict that Stantec Inc. will post 3.05 EPS for the current fiscal year.

Stantec Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.1612 per share. This is a positive change from Stantec's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.61%. Stantec's dividend payout ratio is 25.62%.

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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