Assenagon Asset Management S.A. Buys 196 Shares of Stantec Inc. (NYSE:STN)

Assenagon Asset Management S.A. grew its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 5.1% during the third quarter, HoldingsChannel reports. The firm owned 4,025 shares of the business services provider’s stock after buying an additional 196 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Stantec were worth $324,000 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. EverSource Wealth Advisors LLC boosted its position in Stantec by 12.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock valued at $103,000 after buying an additional 129 shares in the last quarter. Legacy Capital Group California Inc. boosted its holdings in shares of Stantec by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,298 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 211 shares in the last quarter. Pembroke Management LTD grew its position in Stantec by 4.7% during the 1st quarter. Pembroke Management LTD now owns 7,599 shares of the business services provider’s stock worth $631,000 after acquiring an additional 342 shares during the last quarter. Creative Planning increased its holdings in Stantec by 6.0% in the 2nd quarter. Creative Planning now owns 10,628 shares of the business services provider’s stock worth $888,000 after purchasing an additional 605 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in Stantec in the second quarter valued at about $51,000. 63.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on STN. Scotiabank assumed coverage on Stantec in a research note on Friday, October 25th. They issued a “sector outperform” rating for the company. 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 Up 0.4 %

Shares of NYSE:STN opened at $81.49 on Monday. The firm has a market cap of $9.30 billion, a P/E ratio of 36.38 and a beta of 1.02. The business has a fifty day simple moving average of $81.33 and a 200 day simple moving average of $82.27. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.51. Stantec Inc. has a 12-month low of $61.81 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Stantec had a return on equity of 16.22% and a net margin of 4.96%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. Analysts predict that Stantec Inc. will post 3.07 earnings per share for the current year.

Stantec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were given a $0.152 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.75%. Stantec’s dividend payout ratio (DPR) is currently 27.68%.

About Stantec

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.