Assenagon Asset Management S.A. Has $390,000 Position in Stantec Inc. (NYSE:STN)

Assenagon Asset Management S.A. cut its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 11.1% during the first quarter, Holdings Channel reports. The fund owned 4,693 shares of the business services provider’s stock after selling 585 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Stantec were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Stantec by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,151,060 shares of the business services provider’s stock valued at $269,279,000 after buying an additional 59,589 shares in the last quarter. AJOVista LLC acquired a new position in Stantec in the 4th quarter valued at $867,000. Barometer Capital Management Inc. grew its holdings in Stantec by 17.9% in the 3rd quarter. Barometer Capital Management Inc. now owns 93,090 shares of the business services provider’s stock valued at $6,039,000 after buying an additional 14,140 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Stantec by 17.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,863 shares of the business services provider’s stock valued at $380,000 after buying an additional 863 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Stantec by 23.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 93,442 shares of the business services provider’s stock valued at $6,062,000 after buying an additional 17,532 shares in the last quarter. 63.86% of the stock is owned by institutional investors and hedge funds.

Stantec Price Performance

Shares of STN traded down $1.42 during trading hours on Thursday, hitting $79.45. 90,958 shares of the company were exchanged, compared to its average volume of 110,964. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 34.69 and a beta of 1.05. Stantec Inc. has a fifty-two week low of $56.49 and a fifty-two week high of $87.53. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average is $82.05 and its 200 day moving average is $79.45.

Stantec (NYSE:STN) (TSE:STN) last released its earnings results on Wednesday, February 28th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). The company had revenue of $912.51 million for the quarter, compared to analyst estimates of $891.12 million. Stantec had a return on equity of 16.51% and a net margin of 5.19%. On average, equities analysts anticipate that Stantec Inc. will post 3.1 earnings per share for the current fiscal year.

Stantec Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, June 28th. Stantec’s dividend payout ratio (DPR) is currently 27.07%.

Wall Street Analysts Forecast Growth

Separately, Atb Cap Markets lowered Stantec from an “outperform” rating to a “sector perform” rating in a report on Thursday, February 29th.

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.