Burgundy Asset Management Ltd. Sells 37,783 Shares of Stantec Inc. (NYSE:STN)

Burgundy Asset Management Ltd. decreased its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 976,338 shares of the business services provider’s stock after selling 37,783 shares during the period. Burgundy Asset Management Ltd.’s holdings in Stantec were worth $81,008,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in STN. Northwest & Ethical Investments L.P. increased its position in shares of Stantec by 9.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 216,924 shares of the business services provider’s stock valued at $17,983,000 after purchasing an additional 18,920 shares during the last quarter. American Century Companies Inc. increased its position in shares of Stantec by 18.2% during the 1st quarter. American Century Companies Inc. now owns 49,805 shares of the business services provider’s stock valued at $4,128,000 after purchasing an additional 7,671 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Stantec by 2,094.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 6,497 shares of the business services provider’s stock valued at $538,000 after purchasing an additional 6,201 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Stantec by 33.7% during the 1st quarter. Russell Investments Group Ltd. now owns 418,449 shares of the business services provider’s stock valued at $34,625,000 after purchasing an additional 105,448 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Stantec during the 1st quarter valued at about $6,652,000. Institutional investors own 63.86% of the company’s stock.

Stantec Stock Up 0.3%

Shares of NYSE:STN opened at $106.41 on Friday. The stock’s 50-day moving average price is $108.91 and its 200-day moving average price is $94.65. Stantec Inc. has a 12-month low of $73.18 and a 12-month high of $113.50. The stock has a market capitalization of $12.14 billion, a P/E ratio of 38.84 and a beta of 1.03. The company has a current ratio of 1.44, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44.

Stantec (NYSE:STN) (TSE:STN) last announced its quarterly earnings data on Wednesday, August 13th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. Stantec had a return on equity of 19.03% and a net margin of 5.62%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.64 billion. On average, equities analysts anticipate that Stantec Inc. will post 3.05 earnings per share for the current year.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.1635 per share. This is an increase from Stantec’s previous quarterly dividend of $0.16. This represents a $0.65 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, September 29th. Stantec’s dividend payout ratio (DPR) is currently 24.09%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on STN shares. Wall Street Zen lowered Stantec from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Scotiabank reiterated an “outperform” rating on shares of Stantec in a research report on Wednesday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Stantec in a research report on Friday, May 16th. TD Securities reaffirmed a “buy” rating on shares of Stantec in a research note on Friday, May 16th. Finally, CIBC reaffirmed an “outperform” rating on shares of Stantec in a research note on Friday, July 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

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.