Millennium Management LLC Reduces Stock Holdings in Stantec Inc. (NYSE:STN)

Millennium Management LLC lowered its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 78.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,014 shares of the business services provider’s stock after selling 117,635 shares during the quarter. Millennium Management LLC’s holdings in Stantec were worth $2,677,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Capstone Investment Advisors LLC purchased a new stake in shares of Stantec in the 1st quarter worth $810,000. Jennison Associates LLC raised its position in shares of Stantec by 82.6% in the 1st quarter. Jennison Associates LLC now owns 92,248 shares of the business services provider’s stock worth $7,662,000 after acquiring an additional 41,724 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Stantec by 3.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 313,793 shares of the business services provider’s stock worth $26,077,000 after acquiring an additional 9,480 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Stantec by 33.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 76,772 shares of the business services provider’s stock worth $6,375,000 after acquiring an additional 19,407 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Stantec by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,210,881 shares of the business services provider’s stock worth $337,671,000 after acquiring an additional 59,821 shares in the last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Stock Down 1.5 %

Shares of STN opened at $83.04 on Wednesday. Stantec Inc. has a 52 week low of $59.55 and a 52 week high of $88.42. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 37.07 and a beta of 1.02. The stock’s 50-day moving average price is $81.33 and its 200-day moving average price is $82.15.

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

Stantec Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a $0.152 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.61 annualized dividend and a dividend yield of 0.73%. Stantec’s dividend payout ratio is presently 27.68%.

Wall Street Analysts Forecast Growth

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

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.