Zacks Investment Research lowered shares of Stantec (NYSE:STN) (TSE:STN) from a hold rating to a strong sell rating in a report issued on Tuesday morning.
According to Zacks, “Stantec Inc. provides professional consulting services in planning, engineering, architecture, interior design, landscape architecture, surveying and geomatics. It also provides professional consulting services in environmental sciences, project management, and project economics for infrastructure and facilities projects. Its services include, or relate to, the development of conceptual plans, zoning approval of design infrastructure, transportation planning, traffic engineering, landscape architecture, urban planning, design construction review and surveying. It provides knowledge-based solutions for infrastructure and facilities projects through value-added professional services principally under fee-for-service agreements with clients. Stantec Inc. is headquartered in Edmonton, Canada. “
Shares of Stantec (STN) opened at $25.25 on Tuesday. Stantec has a fifty-two week low of $22.25 and a fifty-two week high of $29.25. The stock has a market capitalization of $2,899.98, a PE ratio of 38.85 and a beta of 1.59. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.29.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a dividend of $0.108 per share. The ex-dividend date is Wednesday, March 28th. This is an increase from Stantec’s previous quarterly dividend of $0.10. This represents a $0.43 dividend on an annualized basis and a dividend yield of 1.71%. Stantec’s dividend payout ratio (DPR) is presently 61.54%.
Stantec declared that its board has initiated a share buyback program on Thursday, November 9th that permits the company to buyback 2,280,000 shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
Several large investors have recently bought and sold shares of the stock. Guardian Capital LP grew its holdings in shares of Stantec by 10.0% during the third quarter. Guardian Capital LP now owns 3,637,776 shares of the business services provider’s stock worth $100,696,000 after buying an additional 329,933 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Stantec by 5.4% during the third quarter. Mawer Investment Management Ltd. now owns 2,782,756 shares of the business services provider’s stock worth $77,277,000 after buying an additional 141,970 shares in the last quarter. Luminus Management LLC grew its holdings in shares of Stantec by 106.6% during the fourth quarter. Luminus Management LLC now owns 2,011,411 shares of the business services provider’s stock worth $56,238,000 after buying an additional 1,038,000 shares in the last quarter. Grandeur Peak Global Advisors LLC grew its holdings in shares of Stantec by 3.5% during the fourth quarter. Grandeur Peak Global Advisors LLC now owns 1,703,373 shares of the business services provider’s stock worth $47,607,000 after buying an additional 57,900 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Stantec by 9.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,576,405 shares of the business services provider’s stock worth $44,061,000 after buying an additional 138,709 shares in the last quarter. Institutional investors and hedge funds own 55.30% of the company’s stock.
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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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