Burgundy Asset Management Ltd. Sells 15,198 Shares of Stantec Inc. (NYSE:STN)

Burgundy Asset Management Ltd. reduced its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,018,910 shares of the business services provider’s stock after selling 15,198 shares during the quarter. Burgundy Asset Management Ltd. owned 0.89% of Stantec worth $85,260,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STN. Triad Wealth Partners LLC bought a new stake in shares of Stantec in the 2nd quarter valued at about $51,000. EverSource Wealth Advisors LLC lifted its holdings in Stantec by 45.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock worth $83,000 after buying an additional 326 shares during the period. UniSuper Management Pty Ltd boosted its position in Stantec by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 800 shares in the last quarter. Tobam purchased a new position in shares of Stantec in the 1st quarter valued at $153,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Stantec in the 4th quarter worth $230,000. 63.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Stantec Price Performance

Shares of STN opened at $79.02 on Thursday. The company has a 50 day moving average of $82.82 and a two-hundred day moving average of $82.52. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.51. Stantec Inc. has a twelve month low of $59.55 and a twelve month high of $88.42. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 34.51 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 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. Stantec had a return on equity of 16.22% and a net margin of 4.96%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. As a group, analysts predict that Stantec Inc. will post 3.07 earnings per share for the current fiscal year.

Stantec Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, September 27th. Stantec’s payout ratio is currently 27.07%.

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.