1832 Asset Management L.P. Sells 18,955 Shares of Stantec Inc. (NYSE:STN)

1832 Asset Management L.P. reduced its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 19.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,143 shares of the business services provider’s stock after selling 18,955 shares during the period. 1832 Asset Management L.P.’s holdings in Stantec were worth $6,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its position in Stantec by 86.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock worth $75,897,000 after acquiring an additional 422,538 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Stantec by 64.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 528,059 shares of the business services provider’s stock valued at $42,345,000 after purchasing an additional 206,421 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Stantec by 166.5% in the 4th quarter. CIBC Asset Management Inc now owns 284,686 shares of the business services provider’s stock worth $22,929,000 after purchasing an additional 177,882 shares during the period. Candriam S.C.A. increased its position in shares of Stantec by 243.8% during the 2nd quarter. Candriam S.C.A. now owns 204,405 shares of the business services provider’s stock valued at $17,108,000 after purchasing an additional 144,948 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Stantec by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 4,344,568 shares of the business services provider’s stock valued at $360,773,000 after buying an additional 133,687 shares during the period. 63.86% of the stock is currently owned by institutional investors.

Stantec Stock Performance

Stantec stock opened at $81.10 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $9.25 billion, a P/E ratio of 35.42 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 company’s 50-day moving average is $82.41 and its 200 day moving average is $82.44.

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 for the quarter, topping 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 firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Research analysts forecast that Stantec Inc. will post 3.07 EPS for the current 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 given a dividend of $0.152 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 annualized dividend and a dividend yield of 0.75%. Stantec’s dividend payout ratio (DPR) is 27.07%.

Wall Street Analyst Weigh In

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