Stantec (NYSE:STN) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research lowered shares of Stantec (NYSE:STN) (TSE:STN) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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. “

Several other research analysts have also recently issued reports on the stock. BMO Capital Markets cut their price target on shares of Stantec from $39.00 to $37.00 and set an outperform rating for the company in a report on Friday, August 9th. CIBC reaffirmed a hold rating and issued a $35.00 target price on shares of Stantec in a report on Friday, August 9th. Finally, Raymond James reaffirmed a hold rating and issued a $34.50 target price on shares of Stantec in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Stantec has a consensus rating of Hold and an average price target of $33.90.

NYSE STN opened at $21.51 on Wednesday. The stock has a market capitalization of $2.37 billion, a P/E ratio of 15.75 and a beta of 1.16. Stantec has a 52-week low of $20.22 and a 52-week high of $26.74. The firm has a 50-day moving average price of $23.57 and a 200 day moving average price of $23.92. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.84.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Stantec’s previous quarterly dividend of $0.11. This represents a $0.44 dividend on an annualized basis and a yield of 2.05%. Stantec’s dividend payout ratio (DPR) is 30.71%.

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC purchased a new position in Stantec in the fourth quarter valued at about $226,000. Weaver Consulting Group purchased a new position in Stantec in the first quarter valued at about $88,000. Norges Bank acquired a new stake in shares of Stantec in the fourth quarter valued at approximately $33,961,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Stantec in the first quarter valued at approximately $21,245,000. Finally, Beutel Goodman & Co Ltd. acquired a new stake in shares of Stantec in the first quarter valued at approximately $27,000. 65.20% of the stock is owned by institutional investors.

About Stantec

Stantec Inc provides professional consulting services in the area of infrastructure and facilities for clients in the public and private sectors in Canada, the United States, and internationally. It operates through three segments: Consulting Services ? Canada, Consulting Services ? United States, and Consulting Services ? Global.

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