1832 Asset Management L.P. Lowers Stock Position in Stantec Inc. (NYSE:STN)

1832 Asset Management L.P. cut its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 19.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,143 shares of the business services provider’s stock after selling 18,955 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.07% of Stantec worth $6,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in shares of Stantec in the second quarter worth $51,000. EverSource Wealth Advisors LLC raised its holdings in Stantec by 45.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock valued at $83,000 after acquiring an additional 326 shares during the period. UniSuper Management Pty Ltd lifted its position in shares of Stantec by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 800 shares in the last quarter. Tobam bought a new position in shares of Stantec in the first quarter worth about $153,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Stantec during the fourth quarter worth about $230,000. 63.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Raymond James cut Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th.

Stantec Price Performance

Shares of NYSE:STN opened at $81.10 on Wednesday. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 35.42 and a beta of 1.02. The firm has a fifty day moving average price of $82.41 and a 200 day moving average price of $82.44. Stantec Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $88.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.39.

Stantec (NYSE:STN) (TSE:STN) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. Stantec had a net margin of 4.96% and a return on equity of 16.22%. As a group, sell-side analysts expect that Stantec Inc. will post 3.07 earnings per share for the current fiscal year.

Stantec Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, September 27th. Stantec’s dividend payout ratio is presently 27.07%.

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.