Harvest Portfolios Group Inc. Makes New Investment in Stantec Inc. $STN

Harvest Portfolios Group Inc. bought a new position in Stantec Inc. (NYSE:STN) (TSE:STN) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,998 shares of the business services provider’s stock, valued at approximately $326,000.

Several other institutional investors have also made changes to their positions in STN. Simplex Trading LLC acquired a new position in Stantec in the 2nd quarter worth approximately $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Stantec in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Stantec by 4,700.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 384 shares of the business services provider’s stock valued at $42,000 after buying an additional 376 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in Stantec during the first quarter valued at $99,000. Finally, Yousif Capital Management LLC acquired a new position in Stantec during the second quarter valued at $202,000. 63.86% of the stock is owned by hedge funds and other institutional investors.

Stantec Trading Down 0.4%

Shares of NYSE STN opened at $108.10 on Friday. The business has a 50 day simple moving average of $110.02 and a 200 day simple moving average of $106.51. Stantec Inc. has a 52 week low of $73.18 and a 52 week high of $114.51. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 39.45 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.44 and a current ratio of 1.44.

Stantec (NYSE:STN) (TSE:STN) last posted its earnings results 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 net margin of 5.62% and a return on equity of 19.03%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Stantec has set its FY 2025 guidance at 3.784-3.880 EPS. On average, research analysts predict that Stantec Inc. will post 3.05 earnings per share for the current fiscal year.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th were given a $0.1635 dividend. 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 of this dividend was Monday, September 29th. Stantec’s payout ratio is presently 23.72%.

Analyst Ratings Changes

Several equities analysts have weighed in on STN shares. Scotiabank reaffirmed an “outperform” rating on shares of Stantec in a research note on Friday, October 17th. Wall Street Zen downgraded shares of Stantec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Stantec in a research note on Wednesday, October 8th. Finally, CIBC reissued an “outperform” rating on shares of Stantec in a research note on Monday, October 20th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

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.