Energy Income Partners LLC acquired a new stake in shares of Stantec Inc. (NYSE:STN – Free Report) (TSE:STN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 12,110 shares of the business services provider’s stock, valued at approximately $834,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP increased its stake in Stantec by 223.9% during the 4th quarter. Allworth Financial LP now owns 298 shares of the business services provider’s stock worth $28,000 after purchasing an additional 206 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Stantec by 264.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 343 shares of the business services provider’s stock valued at $32,000 after buying an additional 249 shares during the period. Leonteq Securities AG acquired a new position in shares of Stantec in the fourth quarter valued at approximately $37,000. Tower Research Capital LLC TRC increased its position in shares of Stantec by 423.7% during the second quarter. Tower Research Capital LLC TRC now owns 508 shares of the business services provider’s stock worth $55,000 after acquiring an additional 411 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Stantec during the fourth quarter worth $63,000. 63.86% of the stock is currently owned by institutional investors and hedge funds.
Stantec Stock Performance
Shares of STN opened at $74.22 on Wednesday. Stantec Inc. has a 12 month low of $66.26 and a 12 month high of $114.51. The firm has a fifty day simple moving average of $70.42 and a 200 day simple moving average of $81.43. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 23.12 and a beta of 0.99. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.
Stantec Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 29th will be given a $0.245 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.3%. Stantec’s payout ratio is currently 21.50%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on STN. Weiss Ratings lowered shares of Stantec from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. ATB Cormark Capital Markets upgraded Stantec from a “hold” rating to a “moderate buy” rating in a report on Friday, May 15th. Scotiabank reissued an “outperform” rating on shares of Stantec in a research note on Friday. Wall Street Zen lowered Stantec from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Zacks Research cut Stantec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $175.00.
Get Our Latest Analysis on Stantec
Stantec Company 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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