JCIC Asset Management Inc. cut its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 3.2% during the second quarter, HoldingsChannel.com reports. The firm owned 252,535 shares of the business services provider’s stock after selling 8,460 shares during the quarter. Stantec makes up 2.2% of JCIC Asset Management Inc.’s portfolio, making the stock its 23rd biggest position. JCIC Asset Management Inc.’s holdings in Stantec were worth $6,501,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in STN. Bank of New York Mellon Corp acquired a new position in Stantec during the 2nd quarter valued at about $249,000. JPMorgan Chase & Co. acquired a new stake in shares of Stantec in the 1st quarter valued at approximately $271,000. Global X Management Co. LLC raised its position in shares of Stantec by 193.9% in the 1st quarter. Global X Management Co. LLC now owns 23,369 shares of the business services provider’s stock valued at $576,000 after acquiring an additional 15,418 shares during the period. Nicola Wealth Management LTD. acquired a new stake in shares of Stantec in the 2nd quarter valued at approximately $1,961,000. Finally, Tobam raised its position in shares of Stantec by 12.8% in the 2nd quarter. Tobam now owns 112,800 shares of the business services provider’s stock valued at $2,899,000 after acquiring an additional 12,800 shares during the period. Institutional investors own 55.79% of the company’s stock.
NYSE STN opened at $25.55 on Monday. Stantec Inc. has a 52-week low of $24.05 and a 52-week high of $29.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market cap of $2.93 billion, a P/E ratio of 18.79 and a beta of 1.59.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 11th. Investors of record on Friday, September 28th will be paid a dividend of $0.106 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.42 dividend on an annualized basis and a yield of 1.66%. Stantec’s payout ratio is 30.88%.
A number of analysts recently weighed in on STN shares. CIBC upgraded shares of Stantec from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, April 26th. Zacks Investment Research upgraded shares of Stantec from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 26th. Finally, TheStreet upgraded shares of Stantec from a “c+” rating to a “b-” rating in a research report on Monday, July 2nd. Three equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $34.50.
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 four segments: Consulting Services ? Canada, Consulting Services ? United States, Consulting Services ? Global, and Construction Services.
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