Cibc World Market Inc. bought a new stake in Stantec Inc. (NYSE:STN – Free Report) (TSE:STN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 469,043 shares of the business services provider’s stock, valued at approximately $32,322,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Stantec by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 4,966,062 shares of the business services provider’s stock valued at $468,622,000 after acquiring an additional 92,641 shares in the last quarter. Bank of Montreal Can lifted its stake in Stantec by 25.2% in the 4th quarter. Bank of Montreal Can now owns 4,464,733 shares of the business services provider’s stock worth $421,321,000 after purchasing an additional 897,912 shares in the last quarter. Royal Bank of Canada lifted its stake in Stantec by 2.9% in the 4th quarter. Royal Bank of Canada now owns 4,131,944 shares of the business services provider’s stock worth $389,890,000 after purchasing an additional 117,613 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Stantec by 19.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,485,388 shares of the business services provider’s stock worth $300,340,000 after purchasing an additional 557,434 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Stantec by 82.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,449,311 shares of the business services provider’s stock worth $374,871,000 after purchasing an additional 1,558,703 shares during the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.
Stantec Stock Down 0.1%
Shares of NYSE STN opened at $74.02 on Monday. The company has a market capitalization of $8.32 billion, a P/E ratio of 23.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.50 and a quick ratio of 1.50. The company has a 50 day simple moving average of $70.56 and a 200-day simple moving average of $80.88. Stantec Inc. has a 1 year low of $66.26 and a 1 year high of $114.51.
Stantec Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be paid a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 29th. Stantec’s dividend payout ratio is 21.50%.
Wall Street Analysts Forecast Growth
STN has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Stantec in a research report on Friday, August 14th. Weiss Ratings downgraded Stantec from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Wall Street Zen lowered Stantec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Zacks Research cut Stantec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Stantec in a research note on Friday, August 14th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Stantec has a consensus rating of “Moderate Buy” and an average target price of $175.00.
Read Our Latest Research Report on STN
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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