Stantec (NYSE:STN) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of Stantec (NYSE:STN) (TSE:STN) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports.

A number of other equities research analysts also recently weighed in on STN. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Stantec has a consensus rating of “Moderate Buy”.

Stantec Stock Performance

NYSE STN opened at $89.43 on Wednesday. The firm’s 50 day simple moving average is $78.26 and its 200 day simple moving average is $80.99. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 40.65 and a beta of 1.01. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. Stantec has a 1 year low of $73.18 and a 1 year high of $90.24.

Stantec Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be paid a $0.1574 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.63 annualized dividend and a dividend yield of 0.70%. This is an increase from Stantec’s previous quarterly dividend of $0.16. Stantec’s dividend payout ratio is currently 26.36%.

Institutional Investors Weigh In On Stantec

Institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its position in shares of Stantec by 166.5% in the 4th quarter. Mackenzie Financial Corp now owns 22,342,818 shares of the business services provider’s stock worth $1,751,093,000 after purchasing an additional 13,958,790 shares during the period. Amiral Gestion acquired a new stake in Stantec during the 4th quarter worth about $823,000. USS Investment Management Ltd lifted its stake in shares of Stantec by 27.1% in the 4th quarter. USS Investment Management Ltd now owns 17,969 shares of the business services provider’s stock valued at $1,423,000 after purchasing an additional 3,827 shares during the period. Voloridge Investment Management LLC boosted its position in shares of Stantec by 171.4% during the 4th quarter. Voloridge Investment Management LLC now owns 56,751 shares of the business services provider’s stock valued at $4,452,000 after purchasing an additional 35,838 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Stantec by 12.2% during the 4th quarter. Two Sigma Advisers LP now owns 130,967 shares of the business services provider’s stock worth $10,274,000 after buying an additional 14,200 shares in the last quarter. Institutional investors own 63.86% of the company’s stock.

About Stantec

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.