Quantbot Technologies LP bought a new position in Stantec Inc. (NYSE:STN – Free Report) (TSE:STN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 39,176 shares of the business services provider’s stock, valued at approximately $2,700,000.
A number of other hedge funds also recently added to or reduced their stakes in STN. UBS Group AG increased its holdings in shares of Stantec by 23.2% in the 4th quarter. UBS Group AG now owns 390,644 shares of the business services provider’s stock worth $36,861,000 after acquiring an additional 73,539 shares during the period. Bank of America Corp DE lifted its position in Stantec by 12.6% in the 1st quarter. Bank of America Corp DE now owns 1,140,686 shares of the business services provider’s stock valued at $98,555,000 after purchasing an additional 127,229 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Stantec by 59.8% during the 1st quarter. Quantinno Capital Management LP now owns 58,909 shares of the business services provider’s stock valued at $5,090,000 after purchasing an additional 22,036 shares during the period. Principal Financial Group Inc. boosted its stake in Stantec by 126.0% during the 4th quarter. Principal Financial Group Inc. now owns 932,025 shares of the business services provider’s stock valued at $88,066,000 after purchasing an additional 519,545 shares during the period. Finally, Navellier & Associates Inc. bought a new position in Stantec in the 4th quarter worth about $3,980,000. 63.86% of the stock is currently owned by institutional investors.
Stantec Stock Down 0.1%
STN stock opened at $74.02 on Monday. Stantec Inc. has a 52 week low of $66.26 and a 52 week high of $114.51. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 23.06 and a beta of 0.99. The firm’s 50-day moving average is $70.56 and its two-hundred day moving average is $80.88. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.245 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $0.98 annualized dividend and a yield of 1.3%. Stantec’s payout ratio is presently 21.50%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Stantec in a report on Friday, August 14th. Scotiabank reissued an “outperform” rating on shares of Stantec in a report on Friday, August 14th. ATB Cormark Capital Markets upgraded Stantec from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 15th. Zacks Research downgraded Stantec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings lowered Stantec from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $175.00.
Read Our Latest Research Report on STN
About Stantec
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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