Jennison Associates LLC Purchases 5,129 Shares of Stantec Inc. (NYSE:STN)

Jennison Associates LLC grew its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,304 shares of the business services provider’s stock after purchasing an additional 5,129 shares during the quarter. Jennison Associates LLC’s holdings in Stantec were worth $8,101,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new position in Stantec in the second quarter valued at approximately $71,000. Blue Trust Inc. lifted its stake in shares of Stantec by 802.8% in the 3rd quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 867 shares during the period. US Bancorp DE boosted its position in shares of 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 purchasing an additional 493 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new stake in shares of Stantec during the third quarter worth $211,000. Finally, FORA Capital LLC bought a new stake in Stantec in the third quarter valued at about $213,000. Institutional investors and hedge funds own 63.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Scotiabank began coverage on shares of Stantec in a report on Friday, October 25th. They issued a “sector outperform” rating on the stock. Finally, StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Stantec presently has an average rating of “Moderate Buy”.

Stantec Trading Up 0.8 %

NYSE:STN opened at $76.44 on Thursday. The business’s 50-day simple moving average is $80.13 and its 200-day simple moving average is $81.69. Stantec Inc. has a fifty-two week low of $73.18 and a fifty-two week high of $88.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $8.72 billion, a PE ratio of 34.74 and a beta of 1.01.

Stantec (NYSE:STN) (TSE:STN) last released its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Stantec had a net margin of 4.78% and a return on equity of 16.57%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. Sell-side analysts expect 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.