Intact Investment Management Inc. Acquires Shares of 21,120 Stantec Inc. (NYSE:STN)

Intact Investment Management Inc. acquired a new position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,120 shares of the business services provider's stock, valued at approximately $1,657,000.

Several other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in shares of Stantec by 121.3% during the 3rd 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 last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Stantec by 11.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider's stock worth $155,433,000 after purchasing an additional 207,470 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Stantec by 54.6% during the 3rd quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider's stock worth $116,897,000 after purchasing an additional 513,269 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Stantec by 5.3% during the 4th quarter. Allianz Asset Management GmbH now owns 981,515 shares of the business services provider's stock worth $76,968,000 after purchasing an additional 48,972 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Stantec by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider's stock valued at $42,781,000 after buying an additional 46,267 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.

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Stantec Stock Performance

STN traded up $1.24 on Wednesday, reaching $83.80. The company had a trading volume of 81,861 shares, compared to its average volume of 116,004. 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 $9.56 billion, a P/E ratio of 38.09 and a beta of 1.04. The company's fifty day moving average is $79.39 and its 200 day moving average is $81.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42.

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 $0.1574 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.63 dividend on an annualized basis and a yield of 0.75%. This is an increase from Stantec's previous quarterly dividend of $0.16. Stantec's payout ratio is currently 26.61%.

Wall Street Analyst Weigh In

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

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.