Walleye Capital LLC raised its holdings in Stantec Inc. (NYSE:STN – Free Report) (TSE:STN) by 315.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 16,135 shares of the business services provider’s stock after acquiring an additional 12,249 shares during the quarter. Walleye Capital LLC’s holdings in Stantec were worth $1,394,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Group AG grew its stake in shares of Stantec by 23.2% during the 4th quarter. UBS Group AG now owns 390,644 shares of the business services provider’s stock worth $36,861,000 after purchasing an additional 73,539 shares during the period. Principal Financial Group Inc. boosted its holdings in Stantec by 126.0% during the fourth quarter. Principal Financial Group Inc. now owns 932,025 shares of the business services provider’s stock worth $88,066,000 after buying an additional 519,545 shares in the last quarter. Louisbourg Investments Inc. grew its position in Stantec by 97.4% during the fourth quarter. Louisbourg Investments Inc. now owns 42,005 shares of the business services provider’s stock valued at $3,969,000 after buying an additional 20,721 shares during the period. Perigon Wealth Management LLC purchased a new position in Stantec in the fourth quarter valued at $598,000. Finally, TD Waterhouse Canada Inc. raised its position in shares of Stantec by 6.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 470,442 shares of the business services provider’s stock worth $44,344,000 after acquiring an additional 29,718 shares during the period. 63.86% of the stock is currently owned by institutional investors.
Stantec Trading Down 2.0%
STN stock opened at $66.72 on Friday. Stantec Inc. has a 12-month low of $66.26 and a 12-month high of $114.51. The business’s 50-day moving average is $71.54 and its 200 day moving average is $84.83. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.47. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 21.39 and a beta of 1.00.
Stantec Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 30th. Stantec’s payout ratio is presently 22.12%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on STN. Wall Street Zen cut Stantec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. ATB Cormark Capital Markets raised Stantec from a “hold” rating to a “moderate buy” rating in a report on Friday, May 15th. Zacks Research cut Stantec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings downgraded Stantec from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Stantec in a research report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Stantec presently has a consensus rating of “Moderate Buy” and an average price target of $175.00.
View Our Latest Stock Report on Stantec
Stantec Profile
Stantec is a global design and consulting firm offering professional services in engineering, architecture, and environmental sciences. The company partners with public and private clients to deliver solutions spanning infrastructure, water, energy and resources, and community development. Through an integrated approach, Stantec manages projects from initial planning and conceptual design through construction and commissioning, focusing on sustainability and innovation.
The firm’s service portfolio includes civil infrastructure design, building systems engineering, environmental assessments, and project management.
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