STANTEC INC. $66.17 - Toronto symbol STN

STANTEC INC. $66.17 (Toronto symbol STN; TSINetwork Rating: Extra Risk) (780-917-7288; www.stantec.com; Shares outstanding: 46.4 million; Market cap: $3.1 billion; Dividend yield: 1.0%) sells a range of consulting, project delivery, design and technology services. Its clients operate in a variety of industries, including transportation, construction and oil and gas.

The company continues to grow through acquisitions. It just agreed to pay an undisclosed sum for California-based Processes Unlimited International, which has 450 employees in seven offices across California, Texas, Georgia and Tennessee.

Processes Unlimited offers engineering, project management and design services to customers in a wide range of markets, including oil and gas, alternative energy, utilities, food and beverage, packaging, mining and building products.

Stantec cuts its costs by sharing administrative expenses, financing and employee benefits among its divisions. But continually buying and integrating new companies adds risk, including the risk of writedowns.

Stantec is a hold.

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