Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Stantec Inc. (NYSE:STN)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 11.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,983,637 shares of the business services provider's stock after buying an additional 207,470 shares during the quarter. Stantec comprises about 0.7% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 28th largest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.74% of Stantec worth $155,433,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Avantax Advisory Services Inc. boosted its holdings in Stantec by 5.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 17,657 shares of the business services provider's stock valued at $1,385,000 after purchasing an additional 955 shares during the period. Jupiter Asset Management Ltd. increased its position in Stantec by 0.7% in the 4th quarter. Jupiter Asset Management Ltd. now owns 403,099 shares of the business services provider's stock valued at $31,610,000 after acquiring an additional 2,666 shares during the period. Andra AP fonden increased its position in Stantec by 95.7% in the 4th quarter. Andra AP fonden now owns 49,900 shares of the business services provider's stock valued at $3,915,000 after acquiring an additional 24,400 shares during the period. Aigen Investment Management LP acquired a new position in Stantec in the 4th quarter valued at approximately $1,220,000. Finally, Atria Investments Inc increased its position in Stantec by 4.3% in the 4th quarter. Atria Investments Inc now owns 3,650 shares of the business services provider's stock valued at $286,000 after acquiring an additional 151 shares during the period. Institutional investors and hedge funds own 63.86% of the company's stock.

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Stantec Stock Up 2.3 %

STN traded up $1.88 during trading on Friday, hitting $82.41. 123,251 shares of the company's stock were exchanged, compared to its average volume of 115,984. 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 business's 50 day moving average is $79.15 and its two-hundred day moving average is $80.99. Stantec Inc. has a fifty-two week low of $73.18 and a fifty-two week high of $90.24. The stock has a market cap of $9.40 billion, a P/E ratio of 37.46 and a beta of 1.04.

Stantec Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.1574 per share. This is an increase from Stantec's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.63 annualized dividend and a yield of 0.76%. Stantec's dividend payout ratio is presently 26.61%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on STN. StockNews.com upgraded shares of Stantec from a "hold" rating to a "buy" rating in a research report on Saturday, November 16th. Raymond James raised shares of Stantec from a "market perform" rating to an "outperform" rating in a research note on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Stantec presently has a consensus rating of "Buy".

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.