Russell Investments Group Ltd. cut its position in shares of Stantec Inc. (NYSE:STN – Free Report) (TSE:STN) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,957 shares of the business services provider’s stock after selling 11,511 shares during the quarter. Russell Investments Group Ltd. owned 0.29% of Stantec worth $20,978,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Stantec by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,889,838 shares of the business services provider’s stock worth $170,491,000 after buying an additional 109,180 shares in the last quarter. Bank of Montreal Can acquired a new stake in Stantec during the second quarter valued at approximately $185,919,000. Fiera Capital Corp boosted its holdings in Stantec by 16.3% during the second quarter. Fiera Capital Corp now owns 2,409,672 shares of the business services provider’s stock valued at $157,542,000 after purchasing an additional 338,459 shares in the last quarter. Invesco Ltd. boosted its holdings in Stantec by 8.0% during the first quarter. Invesco Ltd. now owns 1,622,913 shares of the business services provider’s stock valued at $81,372,000 after purchasing an additional 119,555 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Stantec by 17.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,615,845 shares of the business services provider’s stock valued at $94,459,000 after purchasing an additional 240,087 shares in the last quarter. 58.17% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Canaccord Genuity Group downgraded Stantec from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. StockNews.com started coverage on shares of Stantec in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Stifel Nicolaus lifted their target price on shares of Stantec from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, September 12th. Finally, Atb Cap Markets upgraded shares of Stantec from a “sector perform” rating to an “outperform” rating in a research note on Sunday, November 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.
Stantec Stock Performance
NYSE:STN opened at $70.51 on Tuesday. Stantec Inc. has a 1 year low of $46.35 and a 1 year high of $72.04. The firm has a 50 day moving average of $65.01 and a 200-day moving average of $64.37. The company has a current ratio of 1.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $7.82 billion, a P/E ratio of 31.90 and a beta of 0.99.
Stantec Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.141 dividend. This represents a $0.56 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, December 28th. Stantec’s dividend payout ratio (DPR) is presently 25.34%.
Stantec Company Profile
Stantec Inc provides e professional services in the areas of infrastructure and facilities to the public and private sectors clients 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.
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