OMERS ADMINISTRATION Corp acquired a new position in Stantec Inc. (NYSE:STN – Free Report) (TSE:STN) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,200 shares of the business services provider’s stock, valued at approximately $1,741,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Stantec by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 4,966,062 shares of the business services provider’s stock valued at $468,622,000 after purchasing an additional 92,641 shares in the last quarter. Bank of Montreal Can raised its position in Stantec by 25.2% during the fourth quarter. Bank of Montreal Can now owns 4,464,733 shares of the business services provider’s stock valued at $421,321,000 after buying an additional 897,912 shares during the period. Royal Bank of Canada raised its position in Stantec by 2.9% during the fourth quarter. Royal Bank of Canada now owns 4,131,944 shares of the business services provider’s stock valued at $389,890,000 after buying an additional 117,613 shares during the period. 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 acquiring an additional 557,434 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in 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 acquiring an additional 1,558,703 shares during the period. 63.86% of the stock is currently owned by hedge funds and other institutional investors.
Stantec Stock Down 0.2%
Shares of Stantec stock opened at $71.65 on Thursday. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 22.97 and a beta of 1.00. The stock has a 50-day simple moving average of $71.05 and a 200-day simple moving average of $84.05. Stantec Inc. has a 52-week low of $66.26 and a 52-week high of $114.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.35 and a quick ratio of 1.35.
Stantec Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.245 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.98 annualized dividend and a dividend yield of 1.4%. Stantec’s dividend payout ratio is 22.12%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on STN. ATB Cormark Capital Markets raised shares of Stantec from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 15th. Wall Street Zen lowered shares of Stantec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings lowered shares of Stantec from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Zacks Research cut shares of Stantec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Stantec in a report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.00.
View Our Latest Stock Report on STN
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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