Stantec (NYSE:STN) Upgraded to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Stantec (NYSE:STN) (TSE:STN) from a hold rating to a buy rating in a research note released on Monday.

A number of other brokerages have also recently issued reports on STN. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank started coverage on shares of Stantec in a report on Friday, October 25th. They set a “sector outperform” rating for the company. StockNews.com downgraded shares of Stantec from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Raymond James cut shares of Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Stantec has an average rating of “Moderate Buy”.

Stantec Price Performance

NYSE STN opened at $82.90 on Monday. Stantec has a fifty-two week low of $67.54 and a fifty-two week high of $88.42. The stock’s 50-day moving average is $81.49 and its two-hundred day moving average is $82.42. The firm has a market cap of $9.46 billion, a P/E ratio of 37.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.39.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Stantec’s previous quarterly dividend of $0.15. Stantec’s payout ratio is 28.18%.

Institutional Trading of Stantec

Several hedge funds and other institutional investors have recently bought and sold shares of STN. Jupiter Asset Management Ltd. lifted its stake in shares of Stantec by 3.1% in the first quarter. Jupiter Asset Management Ltd. now owns 313,793 shares of the business services provider’s stock valued at $26,077,000 after buying an additional 9,480 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Stantec by 33.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 76,772 shares of the business services provider’s stock worth $6,375,000 after acquiring an additional 19,407 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Stantec by 3.7% during the 1st quarter. Russell Investments Group Ltd. now owns 342,455 shares of the business services provider’s stock worth $28,494,000 after purchasing an additional 12,208 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Stantec by 488.2% during the first quarter. Acadian Asset Management LLC now owns 20,000 shares of the business services provider’s stock valued at $1,659,000 after purchasing an additional 16,600 shares during the period. Finally, Compagnie Lombard Odier SCmA raised its stake in shares of Stantec by 81.8% in the third quarter. Compagnie Lombard Odier SCmA now owns 14,125 shares of the business services provider’s stock valued at $1,137,000 after purchasing an additional 6,354 shares in the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.

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.