JARISLOWSKY FRASER Ltd Sells 128,392 Shares of Stantec Inc. (NYSE:STN)

JARISLOWSKY FRASER Ltd cut its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,316,836 shares of the business services provider’s stock after selling 128,392 shares during the quarter. Stantec accounts for about 2.7% of JARISLOWSKY FRASER Ltd’s portfolio, making the stock its 11th largest position. JARISLOWSKY FRASER Ltd’s holdings in Stantec were worth $445,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Stantec by 3.2% during 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 during the last quarter. Norges Bank bought a new stake in Stantec during the 4th quarter worth approximately $109,514,000. TD Asset Management Inc grew its holdings in Stantec by 0.7% during the 4th quarter. TD Asset Management Inc now owns 1,252,366 shares of the business services provider’s stock worth $101,036,000 after acquiring an additional 8,860 shares during the last quarter. National Bank of Canada FI grew its holdings in Stantec by 11.1% during the 2nd quarter. National Bank of Canada FI now owns 940,461 shares of the business services provider’s stock worth $77,860,000 after acquiring an additional 93,823 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Stantec by 86.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock worth $75,897,000 after acquiring an additional 422,538 shares during the last quarter. 63.86% of the stock is owned by institutional investors.

Stantec Trading Down 0.2 %

NYSE:STN opened at $79.02 on Thursday. The firm’s fifty day moving average is $82.82 and its 200-day moving average is $82.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.39. Stantec Inc. has a 52 week low of $59.55 and a 52 week high of $88.42. The firm has a market cap of $9.01 billion, a P/E ratio of 34.51 and a beta of 1.02.

Stantec (NYSE:STN) (TSE:STN) last released its earnings results on Wednesday, August 7th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Stantec had a net margin of 4.96% and a return on equity of 16.22%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Equities analysts expect that Stantec Inc. will post 3.07 earnings per share for the current year.

Stantec Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.