Norges Bank bought a new position in Stantec Inc. (NYSE:STN - Free Report) TSE: STN in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,406,646 shares of the business services provider's stock, valued at approximately $110,221,000. Norges Bank owned approximately 1.23% of Stantec as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. National Bank of Canada FI boosted its position in shares of Stantec by 54.6% in 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 in the last quarter. Toronto Dominion Bank increased its holdings in Stantec by 198.4% in the 3rd quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider's stock worth $30,405,000 after acquiring an additional 251,407 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Stantec by 11.7% in 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 buying an additional 207,470 shares in the last quarter. Canoe Financial LP boosted its stake in Stantec by 1,011.1% in the 4th quarter. Canoe Financial LP now owns 83,755 shares of the business services provider's stock worth $6,567,000 after purchasing an additional 76,217 shares during the period. Finally, Vanguard Group Inc. raised its stake in Stantec by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 4,575,078 shares of the business services provider's stock valued at $358,951,000 after purchasing an additional 74,976 shares in the last quarter. Hedge funds and other institutional investors own 63.86% of the company's stock.
Stantec Stock Performance
Shares of NYSE STN traded down $4.40 during trading on Friday, reaching $80.31. 276,614 shares of the company traded hands, compared to its average volume of 132,302. 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 $73.18 and a 12-month high of $90.24. The firm's fifty day simple moving average is $80.78 and its 200 day simple moving average is $81.40. The stock has a market cap of $9.16 billion, a P/E ratio of 36.51 and a beta of 1.00.
Stantec Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be issued a $0.1574 dividend. This represents a $0.63 annualized dividend and a yield of 0.78%. 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 presently 26.61%.
Analysts Set New Price Targets
Separately, Raymond James upgraded shares of Stantec from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy".
Check Out Our Latest Stock Report on STN
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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