Stantec (NYSE:STN) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Stantec (NYSE:STN) (TSE:STN) from a buy rating to a hold rating in a report published on Friday.

Several other brokerages also recently commented on STN. Raymond James downgraded shares of Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Scotiabank assumed coverage on Stantec in a research note on Friday, October 25th. They issued a “sector outperform” rating for the company.

Stantec Stock Performance

Stantec stock opened at $80.64 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market cap of $9.20 billion, a PE ratio of 36.65 and a beta of 1.02. Stantec has a 12-month low of $62.91 and a 12-month high of $88.42. The business’s 50-day moving average price is $81.33 and its two-hundred day moving average price is $82.40.

Stantec Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 0.77%. Stantec’s dividend payout ratio (DPR) is currently 28.18%.

Institutional Investors Weigh In On Stantec

A number of institutional investors have recently added to or reduced their stakes in STN. Vanguard Group Inc. lifted its holdings in shares of Stantec by 3.2% during the first quarter. Vanguard Group Inc. now owns 4,344,568 shares of the business services provider’s stock worth $360,773,000 after purchasing an additional 133,687 shares during the period. Bank of Montreal Can raised its position in Stantec by 15.1% during the 2nd quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock worth $265,177,000 after purchasing an additional 415,993 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Stantec by 2.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider’s stock worth $142,817,000 after purchasing an additional 48,009 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Stantec by 175.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider’s stock worth $105,850,000 after buying an additional 806,869 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Stantec by 11.1% in the 2nd quarter. National Bank of Canada FI now owns 940,461 shares of the business services provider’s stock valued at $77,860,000 after buying an additional 93,823 shares during the last quarter. 63.86% of the stock is owned by institutional investors.

Stantec Company Profile

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.