Charles Schwab Investment Management Inc. Sells 9,934 Shares of Stantec Inc. (NYSE:STN)

Charles Schwab Investment Management Inc. cut its position in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 274,057 shares of the business services provider's stock after selling 9,934 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.24% of Stantec worth $22,062,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new position in shares of Stantec during the second quarter valued at approximately $51,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Stantec in the 2nd quarter worth $71,000. Blue Trust Inc. grew its holdings in shares of Stantec by 802.8% in the third quarter. Blue Trust Inc. now owns 975 shares of the business services provider's stock worth $81,000 after acquiring an additional 867 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Stantec by 12.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider's stock worth $103,000 after acquiring an additional 129 shares during the period. Finally, US Bancorp DE increased its position in Stantec by 30.3% during the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider's stock valued at $171,000 after acquiring an additional 493 shares during the last quarter. Institutional investors own 63.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Scotiabank started coverage on Stantec in a research note on Friday, October 25th. They set a "sector outperform" rating for the company. Canaccord Genuity Group raised shares of Stantec from a "hold" rating to a "buy" rating in a report on Monday, November 11th. StockNews.com upgraded shares of Stantec from a "hold" rating to a "buy" rating in a research report on Saturday, November 16th. Canaccord Genuity Group upgraded shares of Stantec from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Finally, Raymond James cut shares of Stantec from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Stantec Price Performance

Shares of Stantec stock traded down $0.45 during trading hours on Friday, reaching $86.53. The company's stock had a trading volume of 62,133 shares, compared to its average volume of 120,981. The firm has a 50 day moving average price of $83.40 and a 200-day moving average price of $82.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $9.87 billion, a P/E ratio of 39.54 and a beta of 0.99. Stantec Inc. has a one year low of $74.62 and a one year high of $88.42.

Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.72%. This is a positive change from Stantec's previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. Stantec's dividend payout ratio (DPR) is presently 28.18%.

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.