Jarislowsky Fraser Ltd lifted its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,288,339 shares of the business services provider’s stock after acquiring an additional 23,994 shares during the quarter. Stantec makes up approximately 1.7% of Jarislowsky Fraser Ltd’s portfolio, making the stock its 14th largest position. Jarislowsky Fraser Ltd owned about 9.04% of Stantec worth $284,880,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Stantec by 17.4% during the first quarter. Bank of New York Mellon Corp now owns 15,488 shares of the business services provider’s stock valued at $401,000 after buying an additional 2,300 shares during the period. Highstreet Asset Management Inc. bought a new position in Stantec during the third quarter valued at about $442,000. K.J. Harrison & Partners Inc grew its position in Stantec by 6.3% during the third quarter. K.J. Harrison & Partners Inc now owns 45,800 shares of the business services provider’s stock valued at $1,268,000 after buying an additional 2,700 shares during the period. Goldman Sachs Group Inc. grew its position in Stantec by 24.5% during the first quarter. Goldman Sachs Group Inc. now owns 68,507 shares of the business services provider’s stock valued at $1,774,000 after buying an additional 13,489 shares during the period. Finally, Credit Suisse AG grew its position in Stantec by 8.7% during the first quarter. Credit Suisse AG now owns 70,620 shares of the business services provider’s stock valued at $1,829,000 after buying an additional 5,668 shares during the period. Institutional investors own 56.51% of the company’s stock.
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Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Stantec from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Royal Bank Of Canada initiated coverage on shares of Stantec in a report on Monday, October 23rd. They set a “sector perform” rating and a $40.00 price objective on the stock. BidaskClub raised shares of Stantec from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Finally, TheStreet raised shares of Stantec from a “c” rating to a “b-” rating in a report on Monday, August 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $35.67.
Stantec Inc. (NYSE STN) traded up $0.55 during midday trading on Monday, reaching $28.60. 17,500 shares of the company’s stock traded hands, compared to its average volume of 21,882. The stock has a market capitalization of $3,258.83, a P/E ratio of 20.88 and a beta of 1.60. Stantec Inc. has a 1-year low of $22.25 and a 1-year high of $28.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 1.45.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.098 per share. This represents a $0.39 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, December 28th. Stantec’s dividend payout ratio (DPR) is presently 51.95%.
Stantec announced that its board has approved a stock buyback plan on Thursday, November 9th that allows the company to buyback 2,280,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
Stantec Company Profile
Stantec Inc is a provider of professional services in the area of infrastructure and facilities for clients in the public and private sectors. The Company’s operates through four segments Consulting Services-Canada, Consulting Services-United States, Consulting Services-Global and Construction Services.
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