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. Investors of record on Tuesday, October 31st will be paid a dividend of 0.0367 per share by the transportation company on Wednesday, November 15th. This represents a $0.44 annualized dividend and a yield of 7.53%. The ex-dividend date is Monday, October 30th.
Shares of Student Transportation (STB) traded down 2.67% on Thursday, reaching $5.84. The company had a trading volume of 560,376 shares. Student Transportation has a one year low of $5.37 and a one year high of $6.21. The company’s 50-day moving average is $5.92 and its 200-day moving average is $5.89. The company has a market capitalization of $552.07 million, a PE ratio of 75.84 and a beta of 0.75.
STB has been the subject of several recent research reports. BidaskClub raised shares of Student Transportation from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Zacks Investment Research raised shares of Student Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, National Bank Financial downgraded shares of Student Transportation from an “outperform” rating to a “sector perform” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Student Transportation presently has a consensus rating of “Buy” and an average price target of $6.92.
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A hedge fund recently raised its stake in Student Transportation stock. Vanguard Group Inc. boosted its holdings in Student Transportation Inc (NASDAQ:STB) (TSE:STB) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,885 shares of the transportation company’s stock after purchasing an additional 4,669 shares during the period. Vanguard Group Inc.’s holdings in Student Transportation were worth $186,000 at the end of the most recent reporting period. 25.70% of the stock is owned by hedge funds and other institutional investors.
Student Transportation declared that its Board of Directors has initiated a stock repurchase program on Friday, May 19th that authorizes the company to repurchase 9,230,000 shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board 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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