Stantec Inc. (STN) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. boosted its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 18.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 383,258 shares of the business services provider’s stock after purchasing an additional 58,704 shares during the period. Russell Investments Group Ltd. owned approximately 0.34% of Stantec worth $10,609,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc increased its holdings in shares of Stantec by 6.3% in the third quarter. K.J. Harrison & Partners Inc now owns 45,800 shares of the business services provider’s stock valued at $1,268,000 after buying an additional 2,700 shares in the last quarter. Swiss National Bank increased its holdings in shares of Stantec by 1.6% in the third quarter. Swiss National Bank now owns 193,670 shares of the business services provider’s stock valued at $5,377,000 after buying an additional 3,100 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Stantec by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 102,219 shares of the business services provider’s stock valued at $2,653,000 after buying an additional 5,114 shares in the last quarter. Credit Suisse AG increased its holdings in shares of Stantec by 8.7% in the first quarter. Credit Suisse AG now owns 70,620 shares of the business services provider’s stock valued at $1,829,000 after buying an additional 5,668 shares in the last quarter. Finally, Highstreet Asset Management Inc. bought a new position in shares of Stantec in the third quarter valued at $442,000. Hedge funds and other institutional investors own 54.37% of the company’s stock.
Shares of Stantec Inc. (STN) traded down $0.20 during trading hours on Tuesday, reaching $27.00. 12,900 shares of the company’s stock traded hands, compared to its average volume of 22,171. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 1.45. Stantec Inc. has a 52 week low of $22.25 and a 52 week high of $28.90. The firm has a market cap of $3,070.00, a P/E ratio of 19.85 and a beta of 1.57.
Stantec announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 9th that permits the company to buyback 2,280,000 outstanding shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.098 per share. This represents a $0.39 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, December 28th. Stantec’s dividend payout ratio (DPR) is currently 50.63%.
Several research analysts have issued reports on STN shares. TheStreet raised Stantec from a “c” rating to a “b-” rating in a report on Monday, August 14th. Zacks Investment Research raised Stantec from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, August 15th. BidaskClub raised Stantec from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Royal Bank Of Canada began coverage on Stantec in a report on Monday, October 23rd. They issued a “sector perform” rating and a $40.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.
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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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