Stantec (NYSE:STN) Upgraded 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 note published on Monday, Marketbeat reports.

STN has been the subject of a number of other reports. Scotiabank assumed coverage on shares of Stantec in a research report on Friday, October 25th. They issued a “sector outperform” rating for the company. StockNews.com downgraded shares of Stantec from a “buy” rating to a “hold” rating in a report on Friday. Finally, Raymond James cut shares of Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Stantec currently has an average rating of “Moderate Buy”.

Stantec Stock Up 2.9 %

Shares of NYSE STN opened at $82.96 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $9.46 billion, a P/E ratio of 37.71 and a beta of 1.02. Stantec has a 52 week low of $67.54 and a 52 week high of $88.42. The business has a 50-day simple moving average of $81.35 and a two-hundred day simple moving average of $82.41.

Stantec Increases Dividend

The business 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. 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 boost from Stantec’s previous quarterly dividend of $0.15. Stantec’s payout ratio is currently 28.18%.

Institutional Trading of Stantec

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in Stantec by 12.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 129 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Stantec by 5.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 196 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in shares of Stantec by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,298 shares of the business services provider’s stock valued at $276,000 after buying an additional 211 shares in the last quarter. Pembroke Management LTD lifted its position in Stantec by 4.7% in the 1st quarter. Pembroke Management LTD now owns 7,599 shares of the business services provider’s stock worth $631,000 after buying an additional 342 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Stantec by 30.3% in the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock worth $171,000 after buying an additional 493 shares in the last quarter. Hedge funds and other institutional investors own 63.86% 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.