Student Transportation Inc Announces Monthly Dividend of $0.04 (STB)
Student Transportation Inc (NASDAQ:STB) (TSE:STB) announced a monthly dividend on Thursday, September 14th, Wall Street Journal reports. Shareholders of record on Thursday, November 30th will be given a dividend of 0.0367 per share by the transportation company on Friday, December 15th. This represents a $0.44 annualized dividend and a yield of 7.53%. The ex-dividend date is Wednesday, November 29th.
Student Transportation (NASDAQ STB) traded down 2.67% during mid-day trading on Thursday, reaching $5.84. 560,376 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $5.92 and a 200-day moving average price of $5.89. Student Transportation has a 12-month low of $5.37 and a 12-month high of $6.21. The stock has a market capitalization of $552.07 million, a PE ratio of 75.84 and a beta of 0.75.
Student Transportation declared that its Board of Directors has approved a share repurchase program on Friday, May 19th that allows the company to repurchase 9,230,000 shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
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A hedge fund recently raised its stake 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 filing with the Securities & Exchange Commission. The institutional investor 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. Institutional investors and hedge funds own 25.70% of the company’s stock.
STB has been the subject of a number of recent research reports. BidaskClub cut shares of Student Transportation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research cut shares of Student Transportation from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, National Bank Financial cut shares of Student Transportation from an “outperform” rating to a “sector perform” rating in a research note on Friday, June 2nd. 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 has an average rating of “Buy” and a consensus target price of $6.92.
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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