Hillsdale Investment Management Inc. Reduces Holdings in Stantec Inc. (NYSE:STN)

Hillsdale Investment Management Inc. trimmed its holdings in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,090 shares of the business services provider's stock after selling 6,400 shares during the period. Hillsdale Investment Management Inc. owned about 0.06% of Stantec worth $4,944,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Stantec by 121.3% in the third quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider's stock worth $225,537,000 after purchasing an additional 1,536,475 shares during the period. National Bank of Canada FI increased its position in shares of Stantec by 54.6% in the third quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider's stock valued at $116,897,000 after acquiring an additional 513,269 shares during the period. Toronto Dominion Bank boosted its holdings in Stantec by 198.4% in the third quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider's stock valued at $30,405,000 after acquiring an additional 251,407 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Stantec by 11.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider's stock valued at $155,433,000 after buying an additional 207,470 shares during the period. Finally, Northwest & Ethical Investments L.P. boosted its holdings in Stantec by 79.1% in the third quarter. Northwest & Ethical Investments L.P. now owns 198,539 shares of the business services provider's stock worth $15,966,000 after acquiring an additional 87,709 shares in the last quarter. Hedge funds and other institutional investors own 63.86% of the company's stock.

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Analyst Upgrades and Downgrades

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

Stantec Trading Down 0.1 %

STN traded down $0.11 on Wednesday, reaching $83.76. 134,763 shares of the company traded hands, compared to its average volume of 116,987. The firm has a fifty day simple moving average of $80.17 and a two-hundred day simple moving average of $81.14. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. Stantec Inc. has a one year low of $73.18 and a one year high of $90.24. The company has a market cap of $9.55 billion, a P/E ratio of 38.07 and a beta of 1.04.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.1574 per share. This represents a $0.63 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, March 28th. This is a positive change from Stantec's previous quarterly dividend of $0.16. Stantec's payout ratio is currently 26.61%.

Stantec Company 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.