Stantec (NYSE:STN) Downgraded to Hold at Raymond James

Raymond James downgraded shares of Stantec (NYSE:STN) (TSE:STN) from a moderate buy rating to a hold rating in a research note released on Thursday morning, Marketbeat.com reports. Raymond James also issued estimates for Stantec’s Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $0.60 EPS, FY2024 earnings at $2.99 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $1.07 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at $3.49 EPS.

Stantec Trading Down 2.1 %

Shares of STN opened at $79.85 on Thursday. Stantec has a 1-year low of $59.55 and a 1-year high of $88.42. The company has a market capitalization of $9.11 billion, a P/E ratio of 34.87 and a beta of 1.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s 50 day simple moving average is $83.91 and its 200 day simple moving average is $82.77.

Stantec Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a $0.152 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 annualized dividend and a yield of 0.76%. Stantec’s dividend payout ratio (DPR) is presently 27.07%.

Hedge Funds Weigh In On Stantec

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Triad Wealth Partners LLC bought a new position in shares of Stantec during the 2nd quarter valued at $51,000. EverSource Wealth Advisors LLC increased its holdings in shares of Stantec by 45.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock worth $83,000 after buying an additional 326 shares during the period. UniSuper Management Pty Ltd lifted its stake in shares of Stantec by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 800 shares during the last quarter. Tobam purchased a new stake in Stantec during the 1st quarter valued at about $153,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Stantec during the 4th quarter worth approximately $214,000. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Company 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.