Stantec (NYSE:STN) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Stantec (NYSE:STN) (TSE:STN) from a hold rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat.com reports.

A number of other analysts also recently commented on the company. Scotiabank started coverage on Stantec in a research report on Friday, October 25th. They issued a “sector outperform” rating for the company. Raymond James lowered shares of Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Stantec from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Stantec Stock Performance

NYSE STN opened at $82.90 on Monday. The company’s fifty day moving average is $81.49 and its two-hundred day moving average is $82.42. Stantec has a 52-week low of $67.54 and a 52-week high of $88.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.39. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 37.68 and a beta of 1.02.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, December 31st. This is an increase from Stantec’s previous quarterly dividend of $0.15. Stantec’s payout ratio is currently 28.18%.

Hedge Funds Weigh In On Stantec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STN. EverSource Wealth Advisors LLC lifted its position in Stantec by 12.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock worth $103,000 after buying an additional 129 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Stantec by 5.1% in the third quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 196 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in Stantec by 6.8% in the 2nd quarter. Legacy Capital Group California Inc. now owns 3,298 shares of the business services provider’s stock valued at $276,000 after buying an additional 211 shares during the last quarter. Pembroke Management LTD increased its stake in shares of Stantec by 4.7% in the 1st quarter. Pembroke Management LTD now owns 7,599 shares of the business services provider’s stock valued at $631,000 after buying an additional 342 shares during the period. Finally, US Bancorp DE raised its position in shares of Stantec by 30.3% during the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock worth $171,000 after acquiring an additional 493 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.

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.