TD Asset Management Inc Sells 87,648 Shares of Stantec Inc. $STN

Key Points

• TD Asset Management Inc reduced its stake in Stantec Inc. by 8.4%, selling 87,648 shares in the second quarter, and now owns 0.84% of the company valued at approximately $104.4 million.
• Stantec reported earnings of $0.98 EPS for the latest quarter, matching analysts' expectations, with total revenue reaching $1.17 billion, below projections of $1.64 billion.
• The company announced an increase in its quarterly dividend to $0.1635 per share, with a dividend yield of 0.6%, set to be paid on October 15th.

TD Asset Management Inc lowered its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 961,600 shares of the business services provider's stock after selling 87,648 shares during the quarter. TD Asset Management Inc owned 0.84% of Stantec worth $104,419,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Stantec by 1,520.4% during the first quarter. Acadian Asset Management LLC now owns 162,037 shares of the business services provider's stock worth $13,418,000 after buying an additional 152,037 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in Stantec during the second quarter worth $374,000. Plato Investment Management Ltd bought a new stake in Stantec during the first quarter worth $568,000. American Century Companies Inc. grew its holdings in Stantec by 18.2% during the first quarter. American Century Companies Inc. now owns 49,805 shares of the business services provider's stock worth $4,128,000 after buying an additional 7,671 shares in the last quarter. Finally, Union Bancaire Privee UBP SA boosted its position in Stantec by 71.6% in the second quarter. Union Bancaire Privee UBP SA now owns 37,222 shares of the business services provider's stock worth $4,045,000 after purchasing an additional 15,526 shares during the last quarter. Institutional investors own 63.86% of the company's stock.

Stantec Stock Up 1.5%

Shares of NYSE STN opened at $112.51 on Wednesday. Stantec Inc. has a one year low of $73.18 and a one year high of $113.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.44 and a quick ratio of 1.44. The business's fifty day moving average price is $109.07 and its 200-day moving average price is $102.99. The stock has a market capitalization of $12.83 billion, a PE ratio of 41.06 and a beta of 1.04.

Stantec (NYSE:STN - Get Free Report) TSE: STN last issued its quarterly earnings results on Wednesday, August 13th. The business services provider reported $0.98 EPS for the quarter, meeting analysts' consensus estimates of $0.98. Stantec had a return on equity of 19.03% and a net margin of 5.62%.The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.64 billion. Stantec has set its FY 2025 guidance at 3.784-3.880 EPS. On average, equities research analysts anticipate that Stantec Inc. will post 3.05 EPS for the current year.

Stantec Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on STN shares. Wall Street Zen cut Stantec from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. CIBC reissued an "outperform" rating on shares of Stantec in a research report on Friday, July 18th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Stantec in a research report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Stantec Company 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.

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