Stantec Inc. $STN Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC has reduced its stake in Stantec Inc. by 64% during the first quarter, leaving it with 6,587 shares valued at approximately $546,000.
• Several institutional investors, such as Mackenzie Financial Corp and Vanguard Group Inc., have significantly increased their positions in Stantec, with Mackenzie growing its stake by 166.5%.
• Stantec announced a quarterly dividend increase to $0.1635 per share, representing an annualized yield of 0.6%, with the ex-dividend date set for September 29th.

Neuberger Berman Group LLC trimmed its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 64.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,587 shares of the business services provider's stock after selling 11,696 shares during the quarter. Neuberger Berman Group LLC's holdings in Stantec were worth $546,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Stantec by 13.1% in the fourth 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. BNP Paribas Financial Markets boosted its holdings in Stantec by 114.3% in the fourth quarter. BNP Paribas Financial Markets now owns 23,679 shares of the business services provider's stock valued at $1,858,000 after purchasing an additional 12,627 shares during the last quarter. Jane Street Group LLC boosted its holdings in Stantec by 199.0% in the fourth quarter. Jane Street Group LLC now owns 12,741 shares of the business services provider's stock valued at $1,000,000 after purchasing an additional 8,480 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Stantec in the fourth quarter valued at $205,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Stantec by 4.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,081,133 shares of the business services provider's stock valued at $172,530,000 after purchasing an additional 97,496 shares during the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STN shares. Scotiabank reissued an "outperform" rating on shares of Stantec in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Stantec from a "strong-buy" rating to a "buy" rating in a research note on Saturday. CIBC reissued an "outperform" rating on shares of Stantec in a research note on Friday, July 18th. Royal Bank Of Canada reissued an "outperform" rating on shares of Stantec in a research note on Friday, May 16th. Finally, TD Securities reissued a "buy" rating on shares of Stantec in a research note on Friday, May 16th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy".

Stantec Price Performance

Shares of STN traded down $0.9450 during mid-day trading on Wednesday, hitting $106.4550. 85,610 shares of the company were exchanged, compared to its average volume of 173,750. Stantec Inc. has a 1-year low of $73.18 and a 1-year high of $113.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.44 and a current ratio of 1.44. The company has a 50 day moving average of $108.97 and a 200-day moving average of $95.05. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 38.87 and a beta of 1.03.

Stantec (NYSE:STN - Get Free Report) TSE: STN last released its quarterly earnings results on Wednesday, August 13th. The business services provider reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The firm 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. Analysts expect that Stantec Inc. will post 3.05 EPS for the current fiscal year.

Stantec Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a $0.1635 dividend. This represents a $0.65 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, September 29th. This is a positive change from Stantec's previous quarterly dividend of $0.16. Stantec's payout ratio is currently 24.09%.

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.