QV Investors Inc. Sells 1,580 Shares of Stantec Inc. (NYSE:STN)

QV Investors Inc. lessened its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,015 shares of the business services provider’s stock after selling 1,580 shares during the quarter. Stantec makes up about 1.6% of QV Investors Inc.’s portfolio, making the stock its 25th biggest position. QV Investors Inc. owned approximately 0.20% of Stantec worth $18,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in STN. Vanguard Group Inc. boosted its stake in Stantec by 3.2% in the first quarter. Vanguard Group Inc. now owns 4,344,568 shares of the business services provider’s stock valued at $360,773,000 after acquiring an additional 133,687 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Stantec by 15.1% during the 2nd quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock valued at $265,177,000 after purchasing an additional 415,993 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Stantec by 175.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider’s stock worth $105,850,000 after purchasing an additional 806,869 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Stantec by 11.1% in the 2nd quarter. National Bank of Canada FI now owns 940,461 shares of the business services provider’s stock worth $77,860,000 after purchasing an additional 93,823 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Stantec by 86.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock worth $75,897,000 after buying an additional 422,538 shares during the last quarter. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Raymond James downgraded Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th.

Stantec Price Performance

NYSE:STN opened at $83.04 on Wednesday. The firm’s fifty day moving average is $81.33 and its two-hundred day moving average is $82.15. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 37.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.39. Stantec Inc. has a one year low of $59.55 and a one year high of $88.42.

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

Stantec Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, September 27th. Stantec’s dividend payout ratio (DPR) is 27.68%.

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.