Millennium Management LLC Sells 117,635 Shares of Stantec Inc. (NYSE:STN)

Millennium Management LLC lessened its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 78.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,014 shares of the business services provider’s stock after selling 117,635 shares during the quarter. Millennium Management LLC’s holdings in Stantec were worth $2,677,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in Stantec by 12.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 129 shares during the last quarter. Legacy Capital Group California Inc. lifted its position in Stantec by 6.8% in the second quarter. Legacy Capital Group California Inc. now owns 3,298 shares of the business services provider’s stock valued at $276,000 after purchasing an additional 211 shares during the last quarter. Pembroke Management LTD lifted its position in Stantec by 4.7% in the first quarter. Pembroke Management LTD now owns 7,599 shares of the business services provider’s stock valued at $631,000 after purchasing an additional 342 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in Stantec in the second quarter valued at approximately $51,000. Finally, BNP Paribas Financial Markets lifted its position in Stantec by 8.4% in the first quarter. BNP Paribas Financial Markets now owns 10,035 shares of the business services provider’s stock valued at $833,000 after purchasing an additional 779 shares during the last quarter. Institutional investors own 63.86% of the company’s stock.

Analyst Ratings Changes

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

Stantec Trading Down 1.5 %

Stantec stock opened at $83.04 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $81.33 and its two-hundred day simple moving average is $82.15. Stantec Inc. has a 12 month low of $59.55 and a 12 month high of $88.42. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 37.07 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. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Stantec had a return on equity of 16.22% and a net margin of 4.96%. As a group, equities analysts predict that Stantec Inc. will post 3.07 earnings per share for the current fiscal year.

Stantec Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, September 27th. Stantec’s dividend payout ratio (DPR) is currently 27.68%.

About Stantec

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.