Cidel Asset Management Inc. Cuts Stock Holdings in Stantec Inc. (NYSE:STN)

Cidel Asset Management Inc. lessened its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,899 shares of the business services provider’s stock after selling 1,908 shares during the quarter. Cidel Asset Management Inc.’s holdings in Stantec were worth $12,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Stantec by 121.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock valued at $225,537,000 after buying an additional 1,536,475 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Stantec by 2.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider’s stock worth $142,817,000 after acquiring an additional 48,009 shares in the last quarter. National Bank of Canada FI lifted its holdings in Stantec by 54.6% in the third quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock valued at $116,897,000 after acquiring an additional 513,269 shares during the period. Geode Capital Management LLC boosted its position in shares of Stantec by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider’s stock worth $42,781,000 after purchasing an additional 46,267 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Stantec by 198.4% during the 3rd quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock worth $30,405,000 after purchasing an additional 251,407 shares during the period. Institutional investors and hedge funds own 63.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Scotiabank initiated coverage on Stantec in a research note on Friday, October 25th. They issued a “sector outperform” rating for the company. Finally, Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stantec has an average rating of “Moderate Buy”.

Stantec Stock Performance

Shares of STN opened at $76.71 on Friday. The company has a 50-day moving average of $79.95 and a two-hundred day moving average of $81.65. The stock has a market cap of $8.75 billion, a P/E ratio of 34.87 and a beta of 1.01. Stantec Inc. has a 12-month low of $73.18 and a 12-month high of $88.42. 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 (NYSE:STN) (TSE:STN) last issued its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.12 billion. Stantec had a return on equity of 16.57% and a net margin of 4.78%. During the same period in the previous year, the firm posted $0.85 EPS. As a group, research analysts predict that Stantec Inc. will post 3.05 EPS for the current fiscal year.

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.