Bank of Nova Scotia Sells 6,336 Shares of Stantec Inc. (NYSE:STN)

Bank of Nova Scotia lessened its holdings in shares of Stantec Inc. (NYSE:STNGet Rating) (TSE:STN) by 54.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,399 shares of the business services provider’s stock after selling 6,336 shares during the period. Bank of Nova Scotia’s holdings in Stantec were worth $236,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. US Bancorp DE grew its holdings in shares of Stantec by 144.4% during the first quarter. US Bancorp DE now owns 765 shares of the business services provider’s stock worth $38,000 after purchasing an additional 452 shares during the last quarter. Heritage Wealth Advisors acquired a new position in shares of Stantec during the second quarter valued at $49,000. Advisors Asset Management Inc. lifted its stake in shares of Stantec by 189.4% during the first quarter. Advisors Asset Management Inc. now owns 4,550 shares of the business services provider’s stock valued at $228,000 after acquiring an additional 2,978 shares during the period. Gitterman Wealth Management LLC acquired a new position in shares of Stantec during the second quarter valued at $313,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Stantec by 9.8% during the first quarter. Great West Life Assurance Co. Can now owns 6,817 shares of the business services provider’s stock valued at $364,000 after acquiring an additional 610 shares during the period. Institutional investors own 61.32% of the company’s stock.

Stantec Stock Up 0.3 %

NYSE:STN opened at $49.68 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.54 and a current ratio of 1.52. The company has a market cap of $5.50 billion, a PE ratio of 37.07 and a beta of 0.95. Stantec Inc. has a 52-week low of $40.92 and a 52-week high of $57.79. The stock has a 50-day simple moving average of $47.27 and a 200 day simple moving average of $46.41.

Stantec Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be issued a dividend of $0.132 per share. The ex-dividend date is Thursday, December 29th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.06%. Stantec’s payout ratio is presently 41.04%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Stantec from C$72.00 to C$76.00 in a research note on Tuesday, October 18th. Scotiabank increased their target price on Stantec from C$74.00 to C$80.00 in a research note on Friday, November 11th. TD Securities increased their target price on Stantec from C$74.00 to C$79.00 in a research note on Monday, November 14th. TheStreet lowered Stantec from a “b” rating to a “c+” rating in a research note on Tuesday, October 11th. Finally, BMO Capital Markets raised their price target on Stantec from C$75.00 to C$76.00 in a research report on Monday, November 14th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $76.75.

Stantec Company Profile

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Stantec Inc provides engineering, architecture, and environmental consulting services in the areas of infrastructure and facilities in Canada, the United States, and internationally. The company provides consulting services in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics.

See Also

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Institutional Ownership by Quarter for Stantec (NYSE:STN)

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