Mackenzie Financial Corp Has $741.76 Million Stock Position in Stantec Inc. (NYSE:STN)

Mackenzie Financial Corp decreased its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 6.5% during the 2nd quarter, Holdings Channel reports. The firm owned 8,859,243 shares of the business services provider’s stock after selling 612,608 shares during the period. Stantec comprises about 1.1% of Mackenzie Financial Corp’s investment portfolio, making the stock its 14th biggest position. Mackenzie Financial Corp owned 0.08% of Stantec worth $741,757,000 at the end of the most recent reporting period.

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

Stantec Price Performance

STN stock opened at $80.94 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.39. The business has a 50-day simple moving average of $82.21 and a two-hundred day simple moving average of $82.42. The company has a market capitalization of $9.23 billion, a P/E ratio of 35.35 and a beta of 1.02. Stantec Inc. has a 52-week low of $59.55 and a 52-week high of $88.42.

Stantec (NYSE:STN) (TSE:STN) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.82 earnings per share 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 business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Research analysts expect that Stantec Inc. will post 3.07 EPS for the current fiscal year.

Stantec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be paid a $0.152 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.75%. Stantec’s payout ratio is presently 27.07%.

Wall Street Analysts Forecast Growth

Separately, Raymond James downgraded shares of Stantec from a “moderate buy” rating to a “hold” rating in a research 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.