Arrowstreet Capital Limited Partnership Has $4.95 Million Stake in Stantec Inc. (NYSE:STN)

Arrowstreet Capital Limited Partnership increased its holdings in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 224.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,159 shares of the business services provider's stock after buying an additional 43,711 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.06% of Stantec worth $4,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of STN. Vanguard Group Inc. grew its stake in Stantec by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 4,575,078 shares of the business services provider's stock valued at $358,951,000 after acquiring an additional 74,976 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Stantec by 11.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider's stock worth $155,433,000 after purchasing an additional 207,470 shares during the period. Norges Bank purchased a new position in Stantec during the fourth quarter valued at approximately $110,221,000. Allianz Asset Management GmbH increased its stake in Stantec by 5.3% in the 4th quarter. Allianz Asset Management GmbH now owns 981,515 shares of the business services provider's stock valued at $76,968,000 after buying an additional 48,972 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Stantec by 7.3% in the 4th quarter. JPMorgan Chase & Co. now owns 580,736 shares of the business services provider's stock worth $45,559,000 after buying an additional 39,671 shares in the last quarter. 63.86% of the stock is owned by institutional investors and hedge funds.

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Stantec Stock Up 2.4 %

STN stock traded up $1.98 during mid-day trading on Friday, hitting $85.31. The stock had a trading volume of 142,249 shares, compared to its average volume of 135,261. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 38.78 and a beta of 1.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. Stantec Inc. has a 1-year low of $73.18 and a 1-year high of $90.24. The company has a fifty day moving average of $81.43 and a 200 day moving average of $81.48.

Stantec Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be given a dividend of $0.1574 per share. This represents a $0.63 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, March 28th. This is a positive change from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio (DPR) is presently 26.61%.

Analysts Set New Price Targets

Separately, Raymond James upgraded shares of Stantec from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy".

Stantec Profile

Stantec Inc provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally. It offers evaluation, planning, and designing infrastructure solutions; solutions for sustainable water resources, planning, management, and infrastructure; environmental services; integrated architecture, engineering, interior design, and planning solutions for buildings; and energy and resources solutions.