Magnetar Financial LLC Takes Position in Stantec Inc. (NYSE:STN)

Magnetar Financial LLC bought a new position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,300 shares of the business services provider’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of Stantec in the second quarter valued at approximately $51,000. EverSource Wealth Advisors LLC boosted its position in Stantec by 45.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock worth $83,000 after purchasing an additional 326 shares during the period. UniSuper Management Pty Ltd increased its holdings in shares of Stantec by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 800 shares during the last quarter. Tobam bought a new position in shares of Stantec in the first quarter valued at about $153,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Stantec during the 4th quarter worth about $230,000. 63.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Raymond James lowered shares of Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Stantec Stock Performance

NYSE:STN opened at $80.75 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $82.31 and a 200 day simple moving average of $82.43. Stantec Inc. has a 1-year low of $59.55 and a 1-year high of $88.42. The stock has a market cap of $9.21 billion, a P/E ratio of 35.26 and a beta of 1.02.

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

Stantec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.152 per share. The ex-dividend date is Friday, September 27th. This represents a $0.61 annualized dividend and a dividend yield of 0.75%. Stantec’s dividend payout ratio is presently 27.07%.

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.