Canaccord Genuity Group Upgrades Stantec (NYSE:STN) to Buy

Canaccord Genuity Group upgraded shares of Stantec (NYSE:STN) (TSE:STN) from a hold rating to a buy rating in a research report report published on Monday.

Several other equities analysts also recently commented on the stock. StockNews.com downgraded shares of Stantec from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Scotiabank initiated coverage on Stantec in a research note on Friday, October 25th. They set a “sector outperform” rating for the company. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Raymond James lowered shares of Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Stantec Trading Up 0.4 %

NYSE STN opened at $82.59 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.42. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 37.54 and a beta of 1.02. The firm has a 50 day simple moving average of $81.42 and a 200-day simple moving average of $82.41. Stantec has a one year low of $67.54 and a one year high of $88.42.

Stantec Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.155 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 0.75%. Stantec’s dividend payout ratio (DPR) is currently 28.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Triad Wealth Partners LLC acquired a new stake in shares of Stantec during the 2nd quarter worth about $51,000. Northwestern Mutual Wealth Management Co. purchased a new position in Stantec in the second quarter valued at approximately $71,000. Blue Trust Inc. increased its stake in Stantec by 802.8% in the third quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 867 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 worth $83,000 after buying an additional 326 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Stantec by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock valued at $133,000 after buying an additional 800 shares in the last quarter. 63.86% of the stock is owned by institutional investors and hedge funds.

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.