Stantec Inc. $STN Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lessened its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 14.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 340,323 shares of the business services provider’s stock after selling 58,792 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Stantec were worth $36,955,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Stantec by 24.4% during the first quarter. Signaturefd LLC now owns 5,027 shares of the business services provider’s stock valued at $416,000 after buying an additional 986 shares in the last quarter. Jennison Associates LLC boosted its position in Stantec by 5.5% during the 1st quarter. Jennison Associates LLC now owns 108,992 shares of the business services provider’s stock worth $9,038,000 after acquiring an additional 5,688 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Stantec during the 1st quarter valued at about $381,000. Avantax Advisory Services Inc. increased its holdings in shares of Stantec by 17.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 20,686 shares of the business services provider’s stock valued at $1,714,000 after purchasing an additional 3,029 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Stantec by 2.5% in the first quarter. TD Asset Management Inc now owns 1,049,248 shares of the business services provider’s stock worth $86,958,000 after purchasing an additional 25,846 shares in the last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Trading Up 0.8%

Stantec stock opened at $107.82 on Wednesday. Stantec Inc. has a one year low of $73.18 and a one year high of $114.51. The company’s fifty day moving average price is $109.98 and its two-hundred day moving average price is $106.93. 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 company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 39.35 and a beta of 1.03.

Stantec (NYSE:STN) (TSE:STN) last announced its earnings results on Wednesday, August 13th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $1.64 billion. On average, analysts forecast that Stantec Inc. will post 3.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on STN shares. Scotiabank reaffirmed an “outperform” rating on shares of Stantec in a research report on Friday, October 17th. CIBC restated an “outperform” rating on shares of Stantec in a report on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Stantec in a report on Wednesday, October 8th. Finally, Wall Street Zen cut Stantec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 16th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

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.