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 during 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 trading volume of 150,100 shares, the days-to-cover ratio is presently 5.5 days. Currently, 0.7% of the company’s stock are sold short.

Stantec Price Performance

Shares of Stantec stock traded down $0.62 on Friday, reaching $82.61. The stock had a trading volume of 86,255 shares, compared to its average volume of 125,148. The business’s 50 day moving average is $83.79 and its two-hundred day moving average is $82.97. The company has a market cap of $9.42 billion, a P/E ratio of 37.55 and a beta of 0.99. Stantec has a 1 year low of $74.62 and a 1 year high of $88.42. 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 Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 annualized dividend and a yield of 0.75%. This is a boost from Stantec’s previous quarterly dividend of $0.15. Stantec’s payout ratio is currently 28.18%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STN. Scotiabank began coverage on Stantec in a research note on Friday, October 25th. They issued a “sector outperform” rating on the stock. Canaccord Genuity Group raised 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. Finally, Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Stantec

Several hedge funds have recently bought and sold shares of STN. Northwestern Mutual Wealth Management Co. purchased a new position in Stantec during the second quarter valued at approximately $71,000. Blue Trust Inc. grew its stake in Stantec by 802.8% in the 3rd quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock worth $81,000 after buying an additional 867 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Stantec by 12.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock worth $103,000 after buying an additional 129 shares in the last quarter. US Bancorp DE grew its stake in Stantec by 30.3% in the 3rd quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock worth $171,000 after buying an additional 493 shares in the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in Stantec in the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 63.86% of the company’s stock.

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.