Assenagon Asset Management S.A. trimmed its position in shares of Stantec Inc. (NYSE:STN – Free Report) (TSE:STN) by 15.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,406 shares of the business services provider’s stock after selling 619 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Stantec were worth $267,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Stantec by 1.9% during the third quarter. Principal Financial Group Inc. now owns 278,480 shares of the business services provider’s stock valued at $22,419,000 after purchasing an additional 5,150 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in Stantec during the third quarter valued at $3,117,000. Toronto Dominion Bank boosted its holdings in shares of Stantec by 198.4% during the 3rd quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock valued at $30,405,000 after buying an additional 251,407 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Stantec by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider’s stock worth $42,781,000 after buying an additional 46,267 shares during the period. Finally, Barclays PLC grew its position in shares of Stantec by 73.2% in the 3rd quarter. Barclays PLC now owns 31,001 shares of the business services provider’s stock worth $2,493,000 after buying an additional 13,107 shares during the period. Hedge funds and other institutional investors own 63.86% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Scotiabank began coverage on Stantec in a research note on Friday, October 25th. They set a “sector outperform” rating for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.
Stantec Stock Up 0.5 %
Stantec stock opened at $81.26 on Friday. Stantec Inc. has a 12 month low of $74.98 and a 12 month high of $88.42. The stock has a fifty day simple moving average of $81.34 and a two-hundred day simple moving average of $82.15. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 36.93 and a beta of 1.01.
Stantec (NYSE:STN – Get Free Report) (TSE:STN) last released its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. Stantec had a return on equity of 16.57% and a net margin of 4.78%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm posted $0.85 earnings per share. Equities analysts predict that Stantec Inc. will post 3.05 EPS for the current fiscal year.
Stantec Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.76%. Stantec’s payout ratio is currently 26.36%.
About Stantec
Stantec Inc provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally. It offers evaluation, planning, and designing infrastructure solutions; solutions for sustainable water resources, planning, management, and infrastructure; environmental services; integrated architecture, engineering, interior design, and planning solutions for buildings; and energy and resources solutions.
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