Mawer Investment Management Ltd. cut its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,600,939 shares of the business services provider’s stock after selling 298,130 shares during the period. Mawer Investment Management Ltd.’s holdings in Stantec were worth $119,678,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Swiss National Bank increased its position in shares of Stantec by 1.0% in the first quarter. Swiss National Bank now owns 190,570 shares of the business services provider’s stock valued at $4,945,000 after buying an additional 1,800 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Stantec by 17.4% in the first quarter. Bank of New York Mellon Corp now owns 15,488 shares of the business services provider’s stock valued at $401,000 after buying an additional 2,300 shares during the last quarter. Cardinal Capital Management Inc. increased its position in shares of Stantec by 28.9% in the first quarter. Cardinal Capital Management Inc. now owns 12,500 shares of the business services provider’s stock valued at $324,000 after buying an additional 2,800 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Stantec during the first quarter valued at $248,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Stantec by 3.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 349,658 shares of the business services provider’s stock valued at $9,048,000 after buying an additional 11,222 shares during the last quarter. 54.29% of the stock is owned by hedge funds and other institutional investors.
Stantec Inc. (NYSE:STN) traded up 2.46% during mid-day trading on Friday, reaching $22.90. The company’s stock had a trading volume of 21,929 shares. Stantec Inc. has a 1-year low of $21.50 and a 1-year high of $28.05. The firm has a 50-day moving average of $25.16 and a 200 day moving average of $25.75. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 83.27 and a beta of 1.57.
Stantec (NYSE:STN) last announced its earnings results on Thursday, February 23rd. The business services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by $0.06. Stantec had a net margin of 3.34% and a return on equity of 10.28%. The company had revenue of $820.20 million for the quarter, compared to analysts’ expectations of $643.53 million. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. Equities analysts expect that Stantec Inc. will post $1.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.0913 per share. This represents a $0.37 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Wednesday, June 28th. Stantec’s dividend payout ratio is 36.26%.
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Several research analysts recently weighed in on the stock. Desjardins raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. Zacks Investment Research raised shares of Stantec from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, February 28th. Scotiabank raised shares of Stantec from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 24th. Finally, TheStreet downgraded shares of Stantec from a “b-” rating to a “c+” rating in a research note on Thursday, March 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Stantec presently has an average rating of “Hold” and a consensus price target of $32.67.
Stantec Company Profile
Stantec Inc is a provider of professional services in the area of infrastructure and facilities for clients in the public and private sectors. The Company’s operates through four segments Consulting Services-Canada, Consulting Services-United States, Consulting Services-Global and Construction Services.
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