Natixis Investment Managers International reduced its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 14.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,807 shares of the business services provider’s stock after selling 1,167 shares during the quarter. Natixis Investment Managers International’s holdings in Stantec were worth $304,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Envestnet Asset Management Inc. increased its holdings in Stantec by 32.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,736 shares of the business services provider’s stock worth $374,000 after acquiring an additional 2,117 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Stantec during the 1st quarter valued at $257,000. BlackRock Inc. bought a new stake in Stantec during the first quarter worth about $1,341,000. Russell Investments Group Ltd. grew its position in Stantec by 82.3% during the first quarter. Russell Investments Group Ltd. now owns 85,726 shares of the business services provider’s stock valued at $3,668,000 after acquiring an additional 38,706 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Stantec by 25.9% during the first quarter. JPMorgan Chase & Co. now owns 397,065 shares of the business services provider’s stock valued at $16,987,000 after buying an additional 81,767 shares during the period. 59.89% of the stock is owned by institutional investors and hedge funds.
STN has been the subject of several analyst reports. Stifel Nicolaus reissued a “buy” rating and set a C$70.00 price target on shares of Stantec in a research report on Friday, October 1st. Royal Bank of Canada lifted their price objective on Stantec from $53.00 to $59.00 and gave the company a “sector perform” rating in a research report on Friday, August 6th. BMO Capital Markets raised their price objective on Stantec from C$65.00 to C$67.00 and gave the company an “outperform” rating in a research report on Thursday, August 5th. TD Securities boosted their price target on Stantec from C$64.00 to C$69.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Finally, Scotiabank lifted their price objective on Stantec from C$63.00 to C$66.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $61.65.
Stantec (NYSE:STN) (TSE:STN) last issued its quarterly earnings results on Wednesday, August 4th. The business services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $739.43 million for the quarter, compared to the consensus estimate of $758.16 million. Stantec had a net margin of 4.28% and a return on equity of 13.39%. Equities research analysts forecast that Stantec Inc. will post 1.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.1316 per share. The ex-dividend date of this dividend is Tuesday, September 28th. This represents a $0.53 annualized dividend and a dividend yield of 1.06%. Stantec’s dividend payout ratio (DPR) is 31.33%.
Stantec, Inc engages the provision of in general design and architectural solutions. It operates through the following segments: Buildings; Energy and Resources; Environment Services; Infrastructure; and Water. The Buildings segment offers pre-design, design, and construction administration services in planning, architecture, buildings engineering, and interior design services for vertical infrastructure.
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