Stantec (NYSE:STN) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Stantec (NYSE:STN) (TSE:STN) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Stantec Inc. provides professional consulting services in planning, engineering, architecture, interior design, landscape architecture, surveying and geomatics. It also provides professional consulting services in environmental sciences, project management, and project economics for infrastructure and facilities projects. Its services include, or relate to, the development of conceptual plans, zoning approval of design infrastructure, transportation planning, traffic engineering, landscape architecture, urban planning, design construction review and surveying. It provides knowledge-based solutions for infrastructure and facilities projects through value-added professional services principally under fee-for-service agreements with clients. Stantec Inc. is headquartered in Edmonton, Canada. “

STN has been the topic of a number of other research reports. Raymond James reiterated a hold rating and set a $34.50 price target on shares of Stantec in a research note on Friday, August 9th. CIBC reiterated a hold rating and set a $35.00 price target on shares of Stantec in a research note on Friday, August 9th. Finally, BMO Capital Markets decreased their price target on shares of Stantec from $39.00 to $37.00 and set an outperform rating on the stock in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $33.90.



Shares of NYSE:STN traded down $0.15 during trading on Wednesday, reaching $21.19. The stock had a trading volume of 900 shares, compared to its average volume of 17,185. Stantec has a 52 week low of $20.22 and a 52 week high of $26.74. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 15.16 and a beta of 1.16. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s fifty day moving average is $23.67.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from Stantec’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, September 27th. Stantec’s payout ratio is currently 30.71%.

Several institutional investors have recently added to or reduced their stakes in STN. Mackenzie Financial Corp raised its holdings in Stantec by 5.4% during the 2nd quarter. Mackenzie Financial Corp now owns 11,863,191 shares of the business services provider’s stock worth $284,479,000 after purchasing an additional 609,955 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Stantec by 9.8% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,902,000 shares of the business services provider’s stock worth $262,215,000 after buying an additional 975,000 shares during the period. Vanguard Group Inc. grew its position in shares of Stantec by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,116,949 shares of the business services provider’s stock worth $74,745,000 after buying an additional 172,277 shares during the period. Norges Bank acquired a new position in shares of Stantec during the 4th quarter worth about $33,961,000. Finally, FIL Ltd grew its position in shares of Stantec by 18.6% during the 1st quarter. FIL Ltd now owns 1,398,036 shares of the business services provider’s stock worth $33,038,000 after buying an additional 218,997 shares during the period. 65.20% of the stock is owned by institutional investors and hedge funds.

Stantec Company Profile

Stantec Inc provides professional consulting services in the area of infrastructure and facilities for clients in the public and private sectors in Canada, the United States, and internationally. It operates through three segments: Consulting Services – Canada, Consulting Services – United States, and Consulting Services – Global.

Further Reading: Diversification

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