Creative Planning Buys 605 Shares of Stantec Inc. (NYSE:STN)

Creative Planning increased its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,628 shares of the business services provider’s stock after purchasing an additional 605 shares during the quarter. Creative Planning’s holdings in Stantec were worth $888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in Stantec by 12.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock worth $103,000 after buying an additional 129 shares during the period. Legacy Capital Group California Inc. boosted its stake 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 worth $276,000 after purchasing an additional 211 shares during the period. Pembroke Management LTD grew its holdings in 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 purchasing an additional 342 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Stantec in the 2nd quarter worth about $51,000. Finally, BNP Paribas Financial Markets lifted its stake in Stantec by 8.4% in the first quarter. BNP Paribas Financial Markets now owns 10,035 shares of the business services provider’s stock worth $833,000 after purchasing an additional 779 shares during the last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Stock Up 2.7 %

NYSE:STN opened at $84.92 on Friday. The stock has a fifty day simple moving average of $81.31 and a 200-day simple moving average of $82.17. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 37.91 and a beta of 1.02. Stantec Inc. has a twelve month low of $59.55 and a twelve month high of $88.42.

Stantec (NYSE:STN) (TSE:STN) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $1.09 billion during 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%. Analysts anticipate that Stantec Inc. will post 3.07 EPS for the current year.

Stantec Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a $0.152 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 annualized dividend and a yield of 0.72%. Stantec’s dividend payout ratio (DPR) is currently 27.68%.

Analysts Set New Price Targets

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

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.