Stantec Inc. (NYSE:STN) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 54.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,231 shares of the business services provider’s stock after selling 168,263 shares during the quarter. CIBC Asset Management Inc owned approximately 0.12% of Stantec worth $11,900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STN. Legacy Capital Group California Inc. boosted its position 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 during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Stantec by 1.1% during the 4th quarter. Neuberger Berman Group LLC now owns 25,290 shares of the business services provider’s stock valued at $2,040,000 after acquiring an additional 283 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Stantec by 45.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock valued at $83,000 after acquiring an additional 326 shares during the last quarter. Pembroke Management LTD boosted its position in shares of Stantec by 4.7% during the 1st quarter. Pembroke Management LTD now owns 7,599 shares of the business services provider’s stock valued at $631,000 after acquiring an additional 342 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in shares of Stantec during the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 63.86% of the company’s stock.

Stantec Stock Down 1.0 %

Shares of STN opened at $81.17 on Wednesday. The firm has a market cap of $9.26 billion, a P/E ratio of 35.45 and a beta of 1.02. Stantec Inc. has a 12-month low of $59.55 and a 12-month high of $88.42. The company’s 50-day moving average price is $84.08 and its 200 day moving average price is $82.90. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

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, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Stantec had a net margin of 4.96% and a return on equity of 16.22%. On average, sell-side analysts forecast that Stantec Inc. will post 3.07 earnings per share for the current year.

Stantec Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.152 per share. The ex-dividend date is Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a yield of 0.75%. Stantec’s dividend payout ratio (DPR) is presently 27.07%.

Analyst Upgrades and Downgrades

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