Clearbridge Investments LLC Sells 7,387 Shares of Stantec Inc. (NYSE:STN)

Clearbridge Investments LLC lowered its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,069 shares of the business services provider’s stock after selling 7,387 shares during the quarter. Clearbridge Investments LLC’s holdings in Stantec were worth $16,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Triad Wealth Partners LLC purchased a new position in shares of Stantec in the second quarter worth about $51,000. Northwestern Mutual Wealth Management Co. purchased a new position in Stantec in the 2nd quarter worth approximately $71,000. EverSource Wealth Advisors LLC increased its stake in Stantec by 45.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock worth $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% during the first 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 period. Finally, Tobam purchased a new stake in shares of Stantec during the first quarter valued at approximately $153,000. 63.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Stantec Stock Performance

Stantec stock opened at $82.81 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9.45 billion, a P/E ratio of 36.16 and a beta of 1.02. Stantec Inc. has a 1-year low of $59.55 and a 1-year high of $88.42. The firm has a 50-day moving average of $81.60 and a 200-day moving average of $82.27.

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

Stantec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be given a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Friday, September 27th. Stantec’s payout ratio is currently 27.07%.

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.