Stantec (TSE:STN) Reaches New 12-Month High – Here’s What Happened

Shares of Stantec Inc. (TSE:STN) (NYSE:STN) hit a new 52-week high on Wednesday . The stock traded as high as C$123.15 and last traded at C$123.05, with a volume of 46408 shares. The stock had previously closed at C$120.71.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on STN shares. Raymond James lowered shares of Stantec from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$125.00 to C$120.00 in a report on Thursday, August 8th. Canaccord Genuity Group raised their price objective on shares of Stantec from C$125.00 to C$135.00 in a report on Monday, November 11th. Scotiabank raised shares of Stantec to a “strong-buy” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus lifted their price target on shares of Stantec from C$130.00 to C$145.00 in a report on Friday, October 4th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$126.36.

Stantec Price Performance

The company has a market capitalization of C$14.04 billion, a P/E ratio of 39.71, a P/E/G ratio of 1.46 and a beta of 0.82. The business’s 50-day simple moving average is C$114.74 and its 200 day simple moving average is C$113.47. The company has a current ratio of 1.39, a quick ratio of 1.46 and a debt-to-equity ratio of 80.74.

Stantec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.68%. Stantec’s dividend payout ratio (DPR) is 27.63%.

Insider Buying and Selling

In other Stantec news, Director Vito Culmone bought 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average cost of C$121.49 per share, for a total transaction of C$485,960.00. Insiders own 0.27% of the company’s stock.

About Stantec

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.