Canoe Financial LP Has $605,000 Stock Position in Stantec Inc. (NYSE:STN)

Canoe Financial LP trimmed its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 92.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,538 shares of the business services provider's stock after selling 87,843 shares during the quarter. Canoe Financial LP's holdings in Stantec were worth $605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of Stantec by 8.4% in the first quarter. BNP Paribas Financial Markets now owns 10,035 shares of the business services provider's stock valued at $833,000 after purchasing an additional 779 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Stantec in the 1st quarter valued at $810,000. Tobam bought a new position in Stantec during the 1st quarter worth $153,000. Jennison Associates LLC increased its position in Stantec by 82.6% during the 1st quarter. Jennison Associates LLC now owns 92,248 shares of the business services provider's stock worth $7,662,000 after buying an additional 41,724 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of Stantec by 17.9% during the first quarter. Quantbot Technologies LP now owns 11,910 shares of the business services provider's stock worth $989,000 after buying an additional 1,807 shares in the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.

Stantec Price Performance

Shares of NYSE:STN traded up $0.89 during trading on Monday, reaching $82.67. 59,560 shares of the company traded hands, compared to its average volume of 119,441. The firm has a market capitalization of $9.43 billion, a PE ratio of 36.75 and a beta of 1.02. Stantec Inc. has a 52 week low of $60.44 and a 52 week high of $88.42. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.51. The company's 50 day moving average is $81.51 and its two-hundred day moving average is $82.22.

Stantec (NYSE:STN - Get Free Report) TSE: STN last released its earnings results on Wednesday, August 7th. The business services provider reported $0.82 EPS 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 for the quarter, compared to analyst estimates of $1.09 billion. As a group, sell-side analysts predict that Stantec Inc. will post 3.07 earnings per share for the current year.

Stantec Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a dividend of $0.152 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.61 annualized dividend and a yield of 0.74%. Stantec's dividend payout ratio is currently 27.68%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on STN shares. Scotiabank began coverage on shares of Stantec in a research report on Friday. They set a "sector outperform" rating on the stock. Raymond James cut shares of Stantec from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 8th.

Stantec 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.