BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 13.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,415 shares of the business services provider's stock after selling 8,789 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Stantec were worth $4,456,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in Stantec by 121.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider's stock valued at $225,537,000 after purchasing an additional 1,536,475 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Stantec by 86.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider's stock worth $75,897,000 after acquiring an additional 422,538 shares in the last quarter. Bank of Montreal Can grew its position in Stantec by 15.1% during the 2nd quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider's stock worth $265,177,000 after acquiring an additional 415,993 shares during the last quarter. Candriam S.C.A. grew its position in Stantec by 243.8% during the 2nd quarter. Candriam S.C.A. now owns 204,405 shares of the business services provider's stock worth $17,108,000 after acquiring an additional 144,948 shares during the last quarter. Finally, Cumberland Partners Ltd increased its holdings in Stantec by 1,013.6% during the 3rd quarter. Cumberland Partners Ltd now owns 112,200 shares of the business services provider's stock valued at $9,031,000 after purchasing an additional 102,125 shares in the last quarter. Institutional investors own 63.86% of the company's stock.
Stantec Trading Down 1.1 %
Stantec stock traded down $0.93 during trading hours on Tuesday, reaching $85.82. 119,395 shares of the company's stock traded hands, compared to its average volume of 121,337. The firm's 50 day moving average is $83.14 and its 200-day moving average is $82.70. Stantec Inc. has a fifty-two week low of $72.80 and a fifty-two week high of $88.42. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 39.01 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42.
Stantec Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.155 per share. This is a boost from Stantec's previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 annualized dividend and a dividend yield of 0.72%. Stantec's payout ratio is presently 28.18%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on STN. Scotiabank began coverage on Stantec in a research note on Friday, October 25th. They issued a "sector outperform" rating on the stock. Raymond James lowered shares of Stantec from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 8th. Canaccord Genuity Group raised shares of Stantec from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. StockNews.com raised shares of Stantec from a "hold" rating to a "buy" rating in a research note on Saturday, November 16th. Finally, Canaccord Genuity Group upgraded shares of Stantec from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Stantec presently has a consensus rating of "Moderate Buy".
Get Our Latest Analysis on Stantec
Stantec Company Profile
(
Free Report)
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.
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