With a short percentage of shares outstanding of 1.40%, Stantec Inc. (NYSE:STN) is among the 7 Best Water Infrastructure Stocks to Buy for Scarcity Trends.
Stantec Inc. strengthened its position in the water infrastructure market on June 3 when the Black & Veatch–Stantec joint venture secured an $85 million contract from the U.S. Army Corps of Engineers. The agreement will provide design and engineering support services for the Brandon Road Interbasin Project, a major initiative intended to prevent invasive carp populations from entering the Great Lakes. The eight-year contract involves modifications to the Brandon Road Lock and Dam and highlights Stantec’s expertise in delivering large-scale environmental and water-resource infrastructure projects.
Earlier, on May 19, CIBC analyst Krista Friesen lowered her price target on Stantec Inc. to C$160 from C$173 while maintaining an Outperformer rating. Although the target was reduced, the continued positive rating reflects confidence in the company’s long-term growth prospects and operational execution.
Stantec Inc. is a global professional services firm headquartered in Edmonton, Alberta, Canada, and was founded in 1954. The company provides engineering, architecture, environmental consulting, and design services across a wide range of sectors, including transportation, energy, buildings, and infrastructure. Stantec has developed a particularly strong presence in water infrastructure, supporting clients with planning, design, and program management solutions for drinking water, wastewater, flood control, and water-resource management projects around the world.
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