Duff & Phelps Investment Management Co. Raises Stock Holdings in Stantec Inc. (NYSE:STN)

Duff & Phelps Investment Management Co. raised its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 8.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 253,578 shares of the business services provider’s stock after purchasing an additional 19,824 shares during the period. Duff & Phelps Investment Management Co. owned about 0.22% of Stantec worth $21,224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in shares of Stantec by 175.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider’s stock valued at $105,850,000 after buying an additional 806,869 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Stantec by 86.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock valued at $75,897,000 after purchasing an additional 422,538 shares during the period. Bank of Montreal Can increased its stake in shares of Stantec by 15.1% during the second quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock worth $265,177,000 after purchasing an additional 415,993 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Stantec by 64.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 528,059 shares of the business services provider’s stock worth $42,345,000 after purchasing an additional 206,421 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Stantec by 166.5% in the 4th quarter. CIBC Asset Management Inc now owns 284,686 shares of the business services provider’s stock valued at $22,929,000 after buying an additional 177,882 shares in the last quarter. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Stantec Trading Down 0.6 %

Shares of STN stock opened at $80.27 on Friday. Stantec Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $88.42. The firm has a market capitalization of $9.16 billion, a P/E ratio of 35.05 and a beta of 1.02. The stock’s fifty day moving average is $82.11 and its two-hundred day moving average is $82.38. 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 (NYSE:STN) (TSE:STN) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.82 earnings per share for the quarter, topping 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 firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Research analysts expect that Stantec Inc. will post 3.07 earnings per share for the current fiscal year.

Stantec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be given a $0.152 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.76%. Stantec’s dividend payout ratio (DPR) is presently 27.07%.

Stantec 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.