Creative Planning Buys 605 Shares of Stantec Inc. (NYSE:STN)

Creative Planning grew its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,628 shares of the business services provider’s stock after buying an additional 605 shares during the period. Creative Planning’s holdings in Stantec were worth $888,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake 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 acquiring an additional 806,869 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Stantec by 86.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock valued at $75,897,000 after purchasing an additional 422,538 shares during the period. Bank of Montreal Can lifted its stake in shares of 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 valued at $265,177,000 after buying an additional 415,993 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Stantec by 64.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 528,059 shares of the business services provider’s stock worth $42,345,000 after buying an additional 206,421 shares during the period. Finally, Candriam S.C.A. increased its stake in Stantec by 243.8% in the 2nd quarter. Candriam S.C.A. now owns 204,405 shares of the business services provider’s stock worth $17,108,000 after buying an additional 144,948 shares in the last quarter. 63.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Stantec Trading Up 2.7 %

Stantec stock opened at $84.92 on Friday. Stantec Inc. has a 1 year low of $59.55 and a 1 year high of $88.42. The firm’s 50 day moving average price is $81.31 and its 200-day moving average price is $82.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market cap of $9.69 billion, a P/E ratio of 37.91 and a beta of 1.02.

Stantec (NYSE:STN) (TSE:STN) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Stantec had a net margin of 4.96% and a return on equity of 16.22%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. On average, equities analysts predict that Stantec Inc. will post 3.07 earnings per share for the current fiscal year.

Stantec Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, September 27th. Stantec’s payout ratio is presently 27.68%.

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.