Jennison Associates LLC Has $8.10 Million Position in Stantec Inc. (NYSE:STN)

Jennison Associates LLC increased its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,304 shares of the business services provider’s stock after buying an additional 5,129 shares during the quarter. Jennison Associates LLC owned 0.09% of Stantec worth $8,101,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on STN shares. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Scotiabank began coverage on Stantec in a research report on Friday, October 25th. They set 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Stantec Price Performance

Shares of Stantec stock opened at $76.44 on Thursday. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 34.74 and a beta of 1.01. The firm’s 50-day moving average price is $80.13 and its two-hundred day moving average price is $81.69. 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 Inc. has a 1-year low of $73.18 and a 1-year high of $88.42.

Stantec (NYSE:STN) (TSE:STN) last released its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Stantec had a return on equity of 16.57% and a net margin of 4.78%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company earned $0.85 EPS. On average, equities analysts predict that Stantec Inc. will post 3.05 earnings per share for the current fiscal year.

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.