Student Transportation Inc (STB) to Issue Monthly Dividend of $0.04
Student Transportation Inc (NASDAQ:STB) (TSE:STB) declared a monthly dividend on Thursday, September 14th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.0367 per share by the transportation company on Monday, January 15th. This represents a $0.44 annualized dividend and a yield of 7.53%. The ex-dividend date of this dividend is Thursday, December 28th.
Student Transportation (NASDAQ STB) opened at 5.84 on Friday. The firm has a 50-day moving average of $5.92 and a 200 day moving average of $5.89. The company has a market capitalization of $552.07 million, a P/E ratio of 75.84 and a beta of 0.75. Student Transportation has a 52-week low of $5.39 and a 52-week high of $6.21.
An institutional investor recently raised its position in Student Transportation stock. Vanguard Group Inc. grew its holdings in Student Transportation Inc (NASDAQ:STB) (TSE:STB) by 20.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,885 shares of the transportation company’s stock after buying an additional 4,669 shares during the period. Vanguard Group Inc.’s holdings in Student Transportation were worth $186,000 as of its most recent filing with the Securities & Exchange Commission. 25.70% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the stock. Zacks Investment Research raised shares of Student Transportation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. BidaskClub cut shares of Student Transportation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, National Bank Financial cut shares of Student Transportation from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Student Transportation presently has an average rating of “Buy” and an average price target of $7.08.
Student Transportation announced that its board has approved a stock repurchase plan on Friday, May 19th that allows the company to repurchase 9,230,000 outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
About Student Transportation
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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