Magnetar Financial LLC takes position in Stantec Inc. (NYSE:STN)

Magnetar Financial LLC bought a new position in shares of Stantec Inc. (NYSE:STN – Free Report) (TSE:STN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,300 shares of the business services provider’s stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in shares of Stantec in the second quarter valued at about $51,000. EverSource Wealth Advisors LLC boosted its position in Stantec by 45.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock worth $83,000 after purchasing an additional 326 shares during the period. UniSuper Management Pty Ltd boosted its holdings in shares of Stantec by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock valued at $133,000 after buying an additional 800 shares in the last quarter. Tobam ​​purchased a new position in shares of Stantec in the first quarter valued at approximately $153,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Stantec during the 4th quarter worth about $230,000. 63.86% of shares are owned by institutional investors.

Changes in Analyst Ratings

Separately, Raymond James cut shares of Stantec from a “moderate-buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Read the latest stock analysis on Stantec

Stantec stock performance

NYSE:STN opened at $80.75 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.39, and a debt-to-equity ratio of 0.51. The stock has a 50-day simple moving average of $82.31 and a 200-day simple moving average of $82.43. Stantec Inc. has a 1 year low of $59.55 and a 1 year high of $88.42. The stock has a market cap of $9.21 billion, a P/E ratio of 35.26 and a beta of 1.02.

Stantec (NYSE:STN – Get Your Free Report ) (TSE:STN) last announced its earnings results on Wednesday, August 7th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Stantec had a net margin of 4.96% and a return on equity of 16.22%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Research analysts anticipate that Stantec Inc. will post 3.07 earnings per share for the current year.

Stantec announces dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.152 per share. The ex-dividend date is Friday, September 27. This represents an annualized dividend of $0.61 and a dividend yield of 0.75%. Stantec’s dividend payout ratio is currently 27.07%.

About Stantec

(Free Report)

Stantec Inc provides professional services in the fields of infrastructure and facilities to the public and private sectors in Canada, the United States and internationally. Provides infrastructure assessment, planning and design 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 resource solutions.

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