Skandinaviska Enskilda Banken AB publ Sells 833 Shares of Stantec Inc. (NYSE:STN)

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,143 shares of the business services provider’s stock after selling 833 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Stantec were worth $4,524,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new position in Stantec in the 2nd quarter worth about $51,000. EverSource Wealth Advisors LLC boosted its stake in Stantec by 45.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock worth $83,000 after purchasing an additional 326 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in Stantec by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock worth $133,000 after purchasing an additional 800 shares in the last quarter. Tobam bought a new position in Stantec in the 1st quarter worth about $153,000. Finally, Steward Partners Investment Advisory LLC bought a new position in Stantec in the 4th quarter worth about $230,000. Institutional investors own 63.86% of the company’s stock.

Stantec Stock Down 1.1 %

STN opened at $80.21 on Monday. The firm’s 50 day simple moving average is $82.64 and its two-hundred day simple moving average is $82.50. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Stantec Inc. has a 1-year low of $59.55 and a 1-year high of $88.42. The company has a market capitalization of $9.15 billion, a PE ratio of 35.03 and a beta of 1.02.

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

Stantec Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be issued a $0.152 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 annualized dividend and a dividend yield of 0.76%. Stantec’s dividend payout ratio (DPR) is 27.07%.

Wall Street Analyst Weigh In

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

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.