Stantec (NYSE:STN) Stock Rating Upgraded by 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 published on Monday morning.

A number of other equities analysts have also recently issued reports on the stock. Scotiabank initiated coverage on shares of Stantec in a research report on Friday, October 25th. They issued a “sector outperform” rating on the stock. StockNews.com lowered shares of Stantec from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James lowered shares of Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Stantec presently has an average rating of “Moderate Buy”.

Stantec Price Performance

STN stock opened at $82.96 on Monday. The firm’s 50-day moving average price is $81.35 and its two-hundred day moving average price is $82.41. Stantec has a 12-month low of $67.54 and a 12-month high of $88.42. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 37.71 and a beta of 1.02. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.62 annualized dividend 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 presently 28.18%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in Stantec by 8.4% during the first quarter. BNP Paribas Financial Markets now owns 10,035 shares of the business services provider’s stock valued at $833,000 after buying an additional 779 shares during the last quarter. Quantbot Technologies LP increased its holdings in Stantec by 17.9% during the first quarter. Quantbot Technologies LP now owns 11,910 shares of the business services provider’s stock valued at $989,000 after buying an additional 1,807 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Stantec during the first quarter valued at approximately $235,000. Russell Investments Group Ltd. increased its stake in shares of Stantec by 3.7% in the first 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. Finally, Pembroke Management LTD increased its stake in shares of Stantec by 4.7% in the first quarter. Pembroke Management LTD now owns 7,599 shares of the business services provider’s stock worth $631,000 after purchasing an additional 342 shares in the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

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.