Stantec (NYSE:STN) Raised to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Stantec (NYSE:STN) (TSE:STN) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports.

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of Stantec from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Scotiabank began coverage on Stantec in a report on Friday, October 25th. They issued a “sector outperform” rating on the stock. Finally, Raymond James cut Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Stantec presently has a consensus rating of “Moderate Buy”.

Stantec Stock Performance

Stantec stock opened at $82.90 on Monday. The company has a market cap of $9.46 billion, a PE ratio of 37.68 and a beta of 1.02. Stantec has a 12 month low of $67.54 and a 12 month high of $88.42. The company has a fifty day moving average price of $81.49 and a two-hundred day moving average price of $82.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.39.

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 given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stantec’s previous quarterly dividend of $0.15. Stantec’s payout ratio is 28.18%.

Institutional Trading of Stantec

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 worth $360,773,000 after buying an additional 133,687 shares during the period. Bank of Montreal Can increased its stake in shares of Stantec by 15.1% during the 2nd quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock worth $265,177,000 after purchasing an additional 415,993 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Stantec by 121.3% during the third quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock valued at $225,537,000 after buying an additional 1,536,475 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Stantec by 2.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider’s stock valued at $142,817,000 after acquiring an additional 48,009 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Stantec by 175.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider’s stock worth $105,850,000 after buying an additional 806,869 shares during the period. 63.86% of the stock is currently owned by institutional investors.

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.