Stantec wins a big bid

Article Excerpt

STANTEC INC. $31.78 (Toronto symbol STN; TSINetwork Rating: Extra Risk) (780-917-7288; www.stantec.com; Shares o/s: 113.9 million; Market cap: $3.6 billion; Divd. yield: 1.7%) reports that the Chicago Transit Authority has selected it to head up a plan to reconstruct and modernize 3.1 kilometres of elevated rail tracks. That includes bridges and support structures. The $2.1 billion project will also upgrade four aging rail stations. Stantec has yet to say how much it will receive under this contract. However, high-profile deals like this enhance the company’s reputation and should help Stantec win more public transit contracts. The company will begin work in the first quarter of 2019 and expects to complete the project in 2025. Stantec is a hold. hold…