Stantec Inc. (STN) shares experienced a significant decline of 6.87% during Thursday's intraday trading session.

The sharp drop appears to be linked to the company's 2026 Annual Meeting of Shareholders, where voting results revealed notable dissent among investors. While all nine director nominees were elected, Douglas K. Ammerman received 10.07% votes against his election, and Marie-Lucie Morin received 4.70% against. Additionally, the non-binding advisory vote on executive compensation saw 6.29% of shareholders voting against the company's approach.

Earlier in the session, Stifel Nicolaus analyst Ian Gillies maintained a Buy rating on Stantec with a price target of C$140.00, but this positive analyst coverage was outweighed by market reaction to the shareholder meeting outcomes.