Stantec (TSE:STN) Reaches New 1-Year High – Here’s What Happened

Stantec Inc. (TSE:STN) (NYSE:STN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$122.83 and last traded at C$121.70, with a volume of 29271 shares changing hands. The stock had previously closed at C$121.61.

Wall Street Analysts Forecast Growth

Several research firms have commented on STN. Scotiabank raised shares of Stantec to a “strong-buy” rating in a research note on Friday, October 25th. Raymond James lowered shares of Stantec from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$125.00 to C$120.00 in a research note on Thursday, August 8th. Stifel Nicolaus upped their target price on Stantec from C$130.00 to C$145.00 in a research report on Friday, October 4th. Finally, Canaccord Genuity Group lifted their price target on Stantec from C$125.00 to C$135.00 in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$126.36.

Stantec Trading Down 0.4 %

The company’s 50-day moving average is C$113.70 and its 200 day moving average is C$113.33. The company has a current ratio of 1.39, a quick ratio of 1.46 and a debt-to-equity ratio of 80.74. The firm has a market cap of C$13.72 billion, a PE ratio of 39.56, a P/E/G ratio of 1.46 and a beta of 0.82.

Stantec Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.70%. Stantec’s dividend payout ratio is 27.63%.

Insider Buying and Selling

In related news, Director Vito Culmone acquired 4,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of C$121.49 per share, for a total transaction of C$485,960.00. In the last ninety days, insiders acquired 4,145 shares of company stock valued at $501,731. Corporate insiders own 0.27% of the company’s stock.

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.