Stantec Inc. $STN Stock Position Increased by Cibc World Market Inc.

Cibc World Market Inc. raised its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 12.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,746 shares of the business services provider’s stock after purchasing an additional 31,383 shares during the period. Cibc World Market Inc. owned 0.25% of Stantec worth $30,379,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Waratah Capital Advisors Ltd. raised its position in shares of Stantec by 6.5% during the 2nd quarter. Waratah Capital Advisors Ltd. now owns 410,497 shares of the business services provider’s stock worth $44,613,000 after buying an additional 25,073 shares in the last quarter. Forge First Asset Management Inc. increased its stake in shares of Stantec by 94.2% during the second quarter. Forge First Asset Management Inc. now owns 86,579 shares of the business services provider’s stock valued at $9,401,000 after acquiring an additional 42,000 shares during the period. Atria Investments Inc raised its holdings in Stantec by 144.2% during the second quarter. Atria Investments Inc now owns 10,082 shares of the business services provider’s stock worth $1,096,000 after purchasing an additional 5,954 shares in the last quarter. Principal Financial Group Inc. lifted its position in Stantec by 64.3% in the third quarter. Principal Financial Group Inc. now owns 412,480 shares of the business services provider’s stock worth $44,494,000 after purchasing an additional 161,400 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its stake in Stantec by 30.8% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 135,710 shares of the business services provider’s stock valued at $14,777,000 after purchasing an additional 31,920 shares in the last quarter. Institutional investors and hedge funds own 63.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STN. Scotiabank reissued an “outperform” rating on shares of Stantec in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Stantec from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Desjardins restated a “buy” rating on shares of Stantec in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Stantec in a research note on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Stantec from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Stantec Trading Down 3.4%

NYSE STN opened at $98.72 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.53. Stantec Inc. has a 1-year low of $75.94 and a 1-year high of $114.51. The firm’s fifty day simple moving average is $97.66 and its 200-day simple moving average is $104.06. The company has a market capitalization of $11.26 billion, a PE ratio of 32.47 and a beta of 1.12.

Stantec (NYSE:STN) (TSE:STN) last issued its earnings results on Thursday, November 13th. The business services provider reported $1.11 EPS for the quarter, meeting analysts’ consensus estimates of $1.11. Stantec had a return on equity of 17.37% and a net margin of 6.06%.The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.71 billion. As a group, sell-side analysts anticipate that Stantec Inc. will post 3.05 earnings per share for the current fiscal year.

Stantec Profile

Stantec is a global design and consulting firm offering professional services in engineering, architecture, and environmental sciences. The company partners with public and private clients to deliver solutions spanning infrastructure, water, energy and resources, and community development. Through an integrated approach, Stantec manages projects from initial planning and conceptual design through construction and commissioning, focusing on sustainability and innovation.

The firm’s service portfolio includes civil infrastructure design, building systems engineering, environmental assessments, and project management.