Canaccord Genuity Group Upgrades Stantec (NYSE:STN) to Buy

Canaccord Genuity Group upgraded shares of Stantec (NYSE:STN) (TSE:STN) from a hold rating to a buy rating in a report published on Monday, Marketbeat reports.

A number of other brokerages also recently issued reports on STN. Scotiabank initiated coverage on Stantec in a report on Friday, October 25th. They set a “sector outperform” rating on the stock. Raymond James cut Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, StockNews.com downgraded Stantec from a “buy” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Stantec Price Performance

Shares of Stantec stock opened at $82.96 on Monday. The firm has a market cap of $9.46 billion, a PE ratio of 37.71 and a beta of 1.02. The company’s fifty day simple moving average is $81.35 and its two-hundred day simple moving average is $82.41. 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 has a 12-month low of $67.54 and a 12-month high of $88.42.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.155 dividend. This is an increase from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, December 31st. Stantec’s dividend payout ratio is presently 28.18%.

Institutional Trading of Stantec

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

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.