Stantec (NYSE:STN) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Stantec (NYSE:STN) (TSE:STN) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other analysts also recently issued reports on STN. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Raymond James cut shares of Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Scotiabank initiated coverage on shares of Stantec in a report on Friday, October 25th. They set a “sector outperform” rating for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Stantec Price Performance

NYSE:STN opened at $82.31 on Friday. Stantec has a 52-week low of $67.54 and a 52-week high of $88.42. The stock has a fifty day moving average of $81.58 and a 200 day moving average of $82.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.42. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 37.41 and a beta of 1.02.

Stantec Increases Dividend

The company 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 $0.155 dividend. This is an increase from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a yield of 0.75%. Stantec’s payout ratio is presently 28.18%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Stantec by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 4,344,568 shares of the business services provider’s stock valued at $360,773,000 after purchasing an additional 133,687 shares in the last quarter. Bank of Montreal Can lifted its holdings in Stantec by 15.1% in the 2nd quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock worth $265,177,000 after buying an additional 415,993 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Stantec by 121.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock worth $225,537,000 after buying an additional 1,536,475 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Stantec by 2.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider’s stock valued at $142,817,000 after acquiring an additional 48,009 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Stantec by 54.6% in the third quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock worth $116,897,000 after acquiring an additional 513,269 shares during the period. 63.86% of the stock is currently owned by 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.