Stantec (NYSE:STN) Upgraded by Canaccord Genuity Group to Buy Rating

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

STN has been the subject of several other reports. Scotiabank initiated coverage on shares of Stantec in a report on Friday, October 25th. They issued a “sector outperform” rating for the company. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday. StockNews.com downgraded shares of Stantec from a “buy” rating to a “hold” rating in a report on Friday. Finally, Raymond James downgraded shares of Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Stantec Stock Up 2.9 %

Stantec stock opened at $82.96 on Monday. Stantec has a twelve month low of $67.54 and a twelve month high of $88.42. The firm has a 50 day moving average price of $81.35 and a 200-day moving average price of $82.41. The company has a market capitalization of $9.46 billion, a P/E ratio of 37.71 and a beta of 1.02. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.51.

Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.62 annualized dividend and a dividend yield of 0.75%. This is a boost from Stantec’s previous quarterly dividend of $0.15. Stantec’s dividend payout ratio (DPR) is 28.18%.

Institutional Trading of Stantec

Several institutional investors and hedge funds have recently made changes to their positions in STN. The Manufacturers Life Insurance Company raised its position in Stantec by 175.7% in 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 purchasing an additional 806,869 shares during the period. DekaBank Deutsche Girozentrale raised its position in Stantec by 86.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock worth $75,897,000 after purchasing an additional 422,538 shares during the period. Bank of Montreal Can raised its position in Stantec by 15.1% in 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 period. Candriam S.C.A. raised its position in Stantec by 243.8% in the 2nd quarter. Candriam S.C.A. now owns 204,405 shares of the business services provider’s stock worth $17,108,000 after purchasing an additional 144,948 shares during the period. Finally, Vanguard Group Inc. raised its position in Stantec by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 4,344,568 shares of the business services provider’s stock worth $360,773,000 after purchasing an additional 133,687 shares during the period. Hedge funds and other institutional investors own 63.86% of the company’s stock.

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.