Royal Bank of Canada Purchases 36,803 Shares of Student Transportation Inc (STB)

Royal Bank of Canada boosted its position in Student Transportation Inc (NASDAQ:STB) (TSE:STB) by 15.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271,399 shares of the transportation company’s stock after purchasing an additional 36,803 shares during the quarter. Royal Bank of Canada owned about 0.29% of Student Transportation worth $1,647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC World Markets Inc. lifted its position in shares of Student Transportation by 21.7% during the 2nd quarter. CIBC World Markets Inc. now owns 2,739,930 shares of the transportation company’s stock valued at $16,618,000 after acquiring an additional 487,641 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Student Transportation during the 2nd quarter valued at $1,311,000. Renaissance Technologies LLC lifted its position in shares of Student Transportation by 10.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,485,671 shares of the transportation company’s stock valued at $8,706,000 after acquiring an additional 136,427 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of Student Transportation by 101.2% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 268,700 shares of the transportation company’s stock valued at $1,630,000 after acquiring an additional 135,183 shares during the period. Finally, Global X Management Co. LLC lifted its position in shares of Student Transportation by 5.6% during the 2nd quarter. Global X Management Co. LLC now owns 1,442,275 shares of the transportation company’s stock valued at $8,755,000 after acquiring an additional 76,052 shares during the period. Institutional investors and hedge funds own 25.61% of the company’s stock.

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A number of research firms have recently weighed in on STB. Zacks Investment Research upgraded Student Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. BidaskClub upgraded Student Transportation from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. BMO Capital Markets cut their target price on Student Transportation from $8.25 to $7.60 and set a “market perform” rating for the company in a research report on Friday, September 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $6.50 target price on shares of Student Transportation in a research report on Friday, September 22nd. Finally, National Bank Financial upgraded Student Transportation from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Student Transportation currently has an average rating of “Buy” and an average price target of $6.84.

Shares of Student Transportation Inc (STB) opened at 6.00 on Tuesday. The stock’s 50 day moving average price is $5.96 and its 200-day moving average price is $5.95. Student Transportation Inc has a 52-week low of $5.39 and a 52-week high of $6.21. The company has a market capitalization of $567.79 million, a P/E ratio of 85.71 and a beta of 0.74.

The business also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a $0.0367 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date is Monday, October 30th. Student Transportation’s payout ratio is currently 628.66%.

Student Transportation Profile

Student Transportation Inc is a Canada-based company engaged in providing school bus transportation services in North America. The Company provides school bus and management services to public and private schools in North America and offers services, such as contracted services, special needs transportation, charter services, direct to parent and used bus sales.

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Institutional Ownership by Quarter for Student Transportation (NASDAQ:STB)

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