Short Interest in Stantec Inc. (NYSE:STN) Declines By 26.4%

Stantec Inc. (NYSE:STNGet Rating) (TSE:STN) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 181,800 shares, a drop of 26.4% from the March 15th total of 246,900 shares. Based on an average trading volume of 82,300 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.2% of the company’s shares are sold short.

A number of brokerages have recently commented on STN. Maxim Group raised their target price on shares of Stantec from C$72.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 5th. Raymond James raised shares of Stantec from an “outperform” rating to a “strong-buy” rating in a research report on Monday, January 24th. StockNews.com began coverage on shares of Stantec in a research report on Thursday, March 31st. They set a “buy” rating on the stock. National Bank Financial raised shares of Stantec from a “sector perform” rating to an “outperform” rating in a research report on Thursday, February 24th. Finally, BMO Capital Markets reduced their target price on shares of Stantec from C$81.00 to C$78.00 in a research report on Friday, February 25th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Stantec has a consensus rating of “Buy” and a consensus target price of $74.62.

STN stock traded down $0.59 during trading on Friday, hitting $50.51. 55,134 shares of the company’s stock traded hands, compared to its average volume of 87,480. The firm has a market capitalization of $5.63 billion, a P/E ratio of 35.32 and a beta of 0.93. The business has a fifty day simple moving average of $50.59 and a two-hundred day simple moving average of $52.45. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. Stantec has a 1 year low of $42.70 and a 1 year high of $58.50.

Stantec (NYSE:STNGet Rating) (TSE:STN) last released its quarterly earnings results on Wednesday, February 23rd. The business services provider reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. Stantec had a net margin of 4.39% and a return on equity of 13.60%. The business had revenue of $726.86 million for the quarter, compared to analyst estimates of $732.46 million. On average, equities research analysts predict that Stantec will post 2.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 18th. Shareholders of record on Thursday, March 31st will be issued a $0.1415 dividend. This is a positive change from Stantec’s previous quarterly dividend of $0.13. This represents a $0.57 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, March 30th. Stantec’s payout ratio is currently 39.86%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STN. Morgan Stanley grew its holdings in Stantec by 39.0% in the second quarter. Morgan Stanley now owns 147,873 shares of the business services provider’s stock worth $6,597,000 after purchasing an additional 41,475 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Stantec in the third quarter worth $464,000. Signaturefd LLC grew its holdings in Stantec by 36.4% in the third quarter. Signaturefd LLC now owns 1,855 shares of the business services provider’s stock worth $87,000 after purchasing an additional 495 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Stantec by 1.7% in the third quarter. Vontobel Holding Ltd. now owns 83,421 shares of the business services provider’s stock worth $3,914,000 after purchasing an additional 1,402 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new position in Stantec in the third quarter worth $26,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Stantec Company Profile (Get Rating)

Stantec, Inc engages the provision of in general design and architectural solutions. It operates through the following segments: Buildings; Energy and Resources; Environment Services; Infrastructure; and Water. The Buildings segment offers pre-design, design, and construction administration services in planning, architecture, buildings engineering, and interior design services for vertical infrastructure.

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