Stantec Inc. (STN) Position Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 716,881 shares of the business services provider’s stock after purchasing an additional 10,500 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Stantec were worth $17,814,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Global X Management Co LLC lifted its holdings in Stantec by 18.7% in the second quarter. Global X Management Co LLC now owns 27,743 shares of the business services provider’s stock valued at $712,000 after buying an additional 4,374 shares during the period. Intact Investment Management Inc. lifted its holdings in Stantec by 60.1% in the second quarter. Intact Investment Management Inc. now owns 295,600 shares of the business services provider’s stock valued at $9,965,000 after buying an additional 111,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Stantec by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 137,407 shares of the business services provider’s stock valued at $3,387,000 after buying an additional 9,499 shares during the period. JPMorgan Chase & Co. acquired a new position in Stantec in the first quarter valued at $271,000. Finally, Toronto Dominion Bank lifted its holdings in Stantec by 2.5% in the second quarter. Toronto Dominion Bank now owns 154,730 shares of the business services provider’s stock valued at $4,053,000 after buying an additional 3,829 shares during the period. Institutional investors and hedge funds own 58.51% of the company’s stock.

STN opened at $26.43 on Tuesday. Stantec Inc. has a 1-year low of $24.05 and a 1-year high of $29.25. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 19.43 and a beta of 1.23.

Stantec (NYSE:STN) (TSE:STN) last posted its quarterly earnings results on Wednesday, August 8th. The business services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.10). Stantec had a net margin of 2.58% and a return on equity of 10.09%. The company had revenue of $703.54 million during the quarter, compared to the consensus estimate of $705.24 million. On average, equities analysts predict that Stantec Inc. will post 1.35 earnings per share for the current year.

Several equities research analysts have weighed in on the stock. ValuEngine downgraded shares of Stantec from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Scotia Howard Weill raised shares of Stantec from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, October 19th. Howard Weil raised shares of Stantec from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, October 19th. Zacks Investment Research downgraded shares of Stantec from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Finally, Scotiabank raised shares of Stantec from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 19th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Stantec currently has an average rating of “Buy” and a consensus target price of $29.00.

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About Stantec

Stantec Inc provides professional consulting services in the area of infrastructure and facilities for clients in the public and private sectors in Canada, the United States, and internationally. It operates through four segments: Consulting Services – Canada, Consulting Services – United States, Consulting Services – Global, and Construction Services.

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Institutional Ownership by Quarter for Stantec (NYSE:STN)

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