Stantec Inc. (NYSE:STN) Sees Significant Drop in Short Interest

Stantec Inc. (NYSE:STN) (TSE:STN) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 825,400 shares, a decline of 21.4% from the November 15th total of 1,050,000 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 150,100 shares, the days-to-cover ratio is currently 5.5 days.

Stantec Trading Down 0.6 %

NYSE:STN traded down $0.53 on Monday, hitting $82.08. The stock had a trading volume of 67,274 shares, compared to its average volume of 121,034. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 37.31 and a beta of 0.99. The company has a fifty day moving average price of $83.78 and a two-hundred day moving average price of $82.99. Stantec has a 1-year low of $75.39 and a 1-year high of $88.42.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.76%. This is a positive change from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, December 31st. Stantec’s payout ratio is presently 28.18%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on STN shares. StockNews.com upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Scotiabank began coverage on shares of Stantec in a report on Friday, October 25th. They issued a “sector outperform” rating on the stock. Finally, Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Stantec

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Stantec by 121.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock worth $225,537,000 after acquiring an additional 1,536,475 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Stantec by 54.6% in the 3rd quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock worth $116,897,000 after acquiring an additional 513,269 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of 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 acquiring an additional 422,538 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of 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 acquiring an additional 415,993 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Stantec by 198.4% in the 3rd quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock worth $30,405,000 after acquiring an additional 251,407 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.

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.