Stantec Inc. (NYSE:STN) Sees Significant Decrease in Short Interest

Stantec Inc. (NYSE:STN) (TSE:STN) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 825,400 shares, a decline of 21.4% from the November 15th total of 1,050,000 shares. Based on an average daily trading volume, of 150,100 shares, the days-to-cover ratio is presently 5.5 days. Approximately 0.7% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several brokerages have commented on STN. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Scotiabank initiated coverage on Stantec in a report on Friday, October 25th. They set a “sector outperform” rating on the stock. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Two equities 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.com, Stantec currently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Stantec

A number of hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Stantec in the 2nd quarter worth $71,000. Blue Trust Inc. lifted its stake in shares of Stantec by 802.8% in the third quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock valued at $81,000 after buying an additional 867 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Stantec by 12.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock valued at $103,000 after buying an additional 129 shares during the last quarter. US Bancorp DE increased its position in shares of Stantec by 30.3% during the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock worth $171,000 after acquiring an additional 493 shares in the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new stake in shares of Stantec in the 3rd quarter worth about $211,000. Institutional investors and hedge funds own 63.86% of the company’s stock.

Stantec Trading Down 0.7 %

Shares of NYSE:STN traded down $0.62 during midday trading on Friday, reaching $82.61. The company’s stock had a trading volume of 86,255 shares, compared to its average volume of 125,148. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 37.55 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a 50 day moving average price of $83.79 and a two-hundred day moving average price of $82.97. Stantec has a fifty-two week low of $74.62 and a fifty-two week high of $88.42.

Stantec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.155 per share. This is an increase from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, December 31st. Stantec’s dividend payout ratio is 28.18%.

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.