Point72 Asset Management L.P. Acquires New Holdings in Stantec Inc. (NYSE:STN)

Point72 Asset Management L.P. acquired a new position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,955 shares of the business services provider's stock, valued at approximately $479,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STN. The Manufacturers Life Insurance Company raised its stake in Stantec by 121.3% during the third quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider's stock valued at $225,537,000 after purchasing an additional 1,536,475 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Stantec by 86.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider's stock worth $75,897,000 after acquiring an additional 422,538 shares in the last quarter. Bank of Montreal Can increased its stake in Stantec by 15.1% during the second quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider's stock worth $265,177,000 after acquiring an additional 415,993 shares during the last quarter. Candriam S.C.A. raised its position in Stantec by 243.8% during the second quarter. Candriam S.C.A. now owns 204,405 shares of the business services provider's stock valued at $17,108,000 after purchasing an additional 144,948 shares during the period. Finally, Cumberland Partners Ltd lifted its stake in shares of Stantec by 1,013.6% in the 3rd quarter. Cumberland Partners Ltd now owns 112,200 shares of the business services provider's stock valued at $9,031,000 after purchasing an additional 102,125 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors.

Stantec Trading Down 1.6 %

STN stock traded down $1.34 during midday trading on Thursday, reaching $83.21. The company's stock had a trading volume of 164,631 shares, compared to its average volume of 121,372. Stantec Inc. has a 1 year low of $74.62 and a 1 year high of $88.42. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 37.82 and a beta of 0.99. The stock has a fifty day simple moving average of $83.79 and a two-hundred day simple moving average of $82.91. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.155 per share. This is a positive change from Stantec's previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a yield of 0.75%. Stantec's dividend payout ratio (DPR) is presently 28.18%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on STN shares. Canaccord Genuity Group upgraded Stantec from a "hold" rating to a "buy" rating in a report on Monday, November 11th. Scotiabank started coverage on shares of Stantec in a research note on Friday, October 25th. They issued a "sector outperform" rating on the stock. 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 raised shares of Stantec from a "hold" rating to a "buy" rating in a research report on Saturday, November 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

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.