Stantec Inc. (NYSE:STN) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can lifted its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 15.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,176,820 shares of the business services provider’s stock after purchasing an additional 415,993 shares during the period. Bank of Montreal Can owned about 2.78% of Stantec worth $265,177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Magnetar Financial LLC purchased a new stake in Stantec during the second quarter worth approximately $276,000. EverSource Wealth Advisors LLC increased its stake in Stantec by 12.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock valued at $103,000 after buying an additional 129 shares during the period. Intech Investment Management LLC increased its stake in Stantec by 301.8% in the 2nd quarter. Intech Investment Management LLC now owns 11,255 shares of the business services provider’s stock valued at $942,000 after buying an additional 8,454 shares during the period. Dimensional Fund Advisors LP raised its position in Stantec by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 215,049 shares of the business services provider’s stock worth $17,968,000 after buying an additional 27,060 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Stantec by 86.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock worth $75,897,000 after acquiring an additional 422,538 shares during the period. 63.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Stantec Price Performance

Shares of NYSE STN opened at $80.21 on Monday. 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 company’s 50-day moving average price is $82.64 and its 200 day moving average price is $82.50. Stantec Inc. has a 52 week low of $59.55 and a 52 week high of $88.42. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 35.03 and a beta of 1.02.

Stantec (NYSE:STN) (TSE:STN) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $1.09 billion during 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, research analysts forecast that Stantec Inc. will post 3.07 earnings per share for the current fiscal year.

Stantec Dividend Announcement

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

Stantec 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.