Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,776,167 shares of the business services provider's stock after purchasing an additional 48,009 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.56% of Stantec worth $142,817,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STN. Triad Wealth Partners LLC purchased a new position in shares of Stantec during the second quarter worth about $51,000. Northwestern Mutual Wealth Management Co. bought a new stake in Stantec during the 2nd quarter valued at $71,000. Blue Trust Inc. lifted its stake in Stantec by 802.8% during the third quarter. Blue Trust Inc. now owns 975 shares of the business services provider's stock valued at $81,000 after purchasing an additional 867 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Stantec by 45.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider's stock valued at $83,000 after buying an additional 326 shares during the period. Finally, UniSuper Management Pty Ltd boosted its stake in shares of Stantec by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider's stock worth $133,000 after acquiring an additional 800 shares in the last quarter. 63.86% of the stock is owned by institutional investors and hedge funds.
Stantec Stock Performance
STN traded up $1.09 on Wednesday, reaching $84.13. The stock had a trading volume of 117,773 shares, compared to its average volume of 121,064. 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 12-month low of $67.54 and a 12-month high of $88.42. The company has a market cap of $9.60 billion, a P/E ratio of 37.76 and a beta of 1.02. The business's 50-day moving average price is $81.80 and its two-hundred day moving average price is $82.45.
Stantec Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a yield of 0.74%. This is a boost from Stantec's previous quarterly dividend of $0.15. Stantec's dividend payout ratio (DPR) is presently 28.18%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on STN. Canaccord Genuity Group upgraded Stantec from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Raymond James downgraded Stantec from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 8th. Scotiabank assumed coverage on Stantec in a report on Friday, October 25th. They issued a "sector outperform" rating on the stock. StockNews.com upgraded shares of Stantec from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Canaccord Genuity Group raised Stantec from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".
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About Stantec
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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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