Stantec Inc. $STN Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 23.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,287,695 shares of the business services provider’s stock after selling 1,021,487 shares during the period. The Manufacturers Life Insurance Company owned 2.88% of Stantec worth $355,854,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in shares of Stantec during the 1st quarter worth approximately $26,000. Simplex Trading LLC purchased a new position in Stantec during the second quarter worth $32,000. Caitong International Asset Management Co. Ltd increased its position in Stantec by 4,700.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 384 shares of the business services provider’s stock worth $42,000 after buying an additional 376 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Stantec by 122.5% in the second quarter. PNC Financial Services Group Inc. now owns 712 shares of the business services provider’s stock worth $77,000 after acquiring an additional 392 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Stantec by 15.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,361 shares of the business services provider’s stock valued at $148,000 after acquiring an additional 180 shares in the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on STN. Weiss Ratings reiterated a “buy (b)” rating on shares of Stantec in a research report on Wednesday, October 8th. Scotiabank reaffirmed an “outperform” rating on shares of Stantec in a research note on Friday, October 17th. Wall Street Zen downgraded shares of Stantec from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 16th. CIBC reissued an “outperform” rating on shares of Stantec in a research note on Monday, October 20th. Finally, Zacks Research lowered shares of Stantec from a “hold” rating to a “strong sell” rating in a research report on Friday, December 5th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Stantec Stock Up 0.4%

Shares of STN opened at $95.11 on Thursday. Stantec Inc. has a fifty-two week low of $73.18 and a fifty-two week high of $114.51. The company’s fifty day moving average is $105.06 and its two-hundred day moving average is $107.18. The firm has a market cap of $10.85 billion, a PE ratio of 31.28 and a beta of 1.10. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.53.

Stantec (NYSE:STN) (TSE:STN) last issued its earnings results on Thursday, November 13th. The business services provider reported $1.11 earnings per share for the quarter, hitting the consensus estimate of $1.11. Stantec had a return on equity of 17.37% and a net margin of 6.06%.The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.71 billion. Stantec has set its FY 2025 guidance at 3.784-3.880 EPS. Analysts forecast that Stantec Inc. will post 3.05 earnings per share for the current year.

Stantec Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.225 dividend. This is a positive change from Stantec’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, December 31st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.9%. Stantec’s dividend payout ratio (DPR) is 21.71%.

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.