Stantec Inc. (STN) Stake Increased by Mackenzie Financial Corp
Mackenzie Financial Corp lifted its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 53.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 804,230 shares of the business services provider’s stock after buying an additional 279,200 shares during the quarter. Mackenzie Financial Corp’s holdings in Stantec were worth $22,478,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. ARP Americas LP acquired a new stake in shares of Stantec during the fourth quarter worth approximately $247,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Stantec during the fourth quarter worth approximately $3,312,000. Global X Management Co. LLC grew its position in shares of Stantec by 75.3% during the fourth quarter. Global X Management Co. LLC now owns 7,951 shares of the business services provider’s stock worth $222,000 after buying an additional 3,416 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Stantec by 9.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,576,405 shares of the business services provider’s stock worth $44,061,000 after buying an additional 138,709 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new stake in shares of Stantec during the fourth quarter worth approximately $1,243,000. 55.30% of the stock is owned by institutional investors and hedge funds.
STN has been the subject of a number of recent analyst reports. TheStreet downgraded shares of Stantec from a “b” rating to a “c+” rating in a research report on Monday, February 26th. Zacks Investment Research raised shares of Stantec from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, National Bank Financial downgraded shares of Stantec from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $35.00.
Stantec (NYSE:STN) (TSE:STN) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.11). The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $854.21 million. Stantec had a return on equity of 10.72% and a net margin of 1.88%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. equities analysts forecast that Stantec Inc. will post 1.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be issued a $0.108 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Wednesday, March 28th. This is an increase from Stantec’s previous quarterly dividend of $0.10. Stantec’s payout ratio is currently 61.54%.
Stantec declared that its board has approved a share repurchase program on Thursday, November 9th that allows the company to repurchase 2,280,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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Stantec Inc is a provider of professional services in the area of infrastructure and facilities for clients in the public and private sectors. The Company’s operates through four segments Consulting Services-Canada, Consulting Services-United States, Consulting Services-Global and Construction Services.
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