Dynamic Technology Lab Private Ltd Acquires Shares of 8,142 Stantec Inc. (NYSE:STN)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,142 shares of the business services provider's stock, valued at approximately $655,000.

A number of other hedge funds also recently made changes to their positions in STN. EverSource Wealth Advisors LLC grew its position in Stantec by 12.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider's stock valued at $103,000 after buying an additional 129 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Stantec by 5.1% in the third quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider's stock valued at $324,000 after acquiring an additional 196 shares in the last quarter. Legacy Capital Group California Inc. increased its stake in shares of Stantec by 6.8% during the second quarter. Legacy Capital Group California Inc. now owns 3,298 shares of the business services provider's stock valued at $276,000 after acquiring an additional 211 shares during the period. US Bancorp DE raised its holdings in Stantec by 30.3% during the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider's stock worth $171,000 after purchasing an additional 493 shares in the last quarter. Finally, Caprock Group LLC lifted its position in Stantec by 5.6% in the third quarter. Caprock Group LLC now owns 11,091 shares of the business services provider's stock worth $894,000 after purchasing an additional 585 shares during the period. Institutional investors own 63.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group upgraded Stantec from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Raymond James lowered Stantec from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 8th. Scotiabank initiated coverage on shares of Stantec in a report on Friday, October 25th. They issued a "sector outperform" rating for the company. Canaccord Genuity Group raised shares of Stantec from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Stantec from a "hold" rating to a "buy" rating in a report on Saturday, November 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

Stantec Price Performance

Shares of NYSE STN traded up $1.32 during mid-day trading on Friday, reaching $87.03. The company had a trading volume of 68,452 shares, compared to its average volume of 121,529. The company has a 50-day moving average price of $82.77 and a two-hundred day moving average price of $82.57. The stock has a market cap of $9.93 billion, a PE ratio of 38.96 and a beta of 1.02. 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 1-year low of $70.95 and a 1-year high of $88.42.

Stantec Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.155 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from Stantec's previous quarterly dividend of $0.15. Stantec's dividend payout ratio 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.