CANADA LIFE ASSURANCE Co Boosts Holdings in Stantec Inc. (NYSE:STN)

CANADA LIFE ASSURANCE Co grew its stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 264,433 shares of the business services provider's stock after acquiring an additional 4,802 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.23% of Stantec worth $20,580,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of STN. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 39,671 shares in the last quarter. Canoe Financial LP lifted its stake in shares of Stantec by 1,011.1% in the fourth quarter. Canoe Financial LP now owns 83,755 shares of the business services provider's stock worth $6,567,000 after buying an additional 76,217 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Stantec by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 407,626 shares of the business services provider's stock valued at $31,965,000 after buying an additional 45,900 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Stantec by 8.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,739 shares of the business services provider's stock valued at $293,000 after acquiring an additional 300 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Stantec by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider's stock worth $42,781,000 after acquiring an additional 46,267 shares during the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Stantec Stock Performance

Shares of NYSE STN traded up $1.62 during trading on Wednesday, reaching $86.68. 150,961 shares of the company traded hands, compared to its average volume of 137,043. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The firm has a 50 day simple moving average of $82.93 and a 200-day simple moving average of $81.77. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $90.24. The stock has a market capitalization of $9.89 billion, a PE ratio of 39.40 and a beta of 1.00.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th were paid a dividend of $0.1574 per share. The ex-dividend date of this dividend was Friday, March 28th. This is a positive change from Stantec's previous quarterly dividend of $0.16. This represents a $0.63 dividend on an annualized basis and a yield of 0.73%. Stantec's payout ratio is currently 26.61%.

About Stantec

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.