Russell Investments Group Ltd. Reduces Stock Holdings in Stantec Inc. (NYSE:STN)

Russell Investments Group Ltd. reduced its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 18.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 313,001 shares of the business services provider's stock after selling 70,097 shares during the period. Russell Investments Group Ltd. owned about 0.27% of Stantec worth $24,544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in STN. BNP Paribas Financial Markets grew its stake in Stantec by 19.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,052 shares of the business services provider's stock valued at $889,000 after acquiring an additional 1,800 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Stantec during the 3rd quarter worth about $479,000. Stifel Financial Corp raised its position in shares of Stantec by 3.1% during the 3rd quarter. Stifel Financial Corp now owns 4,245 shares of the business services provider's stock worth $341,000 after purchasing an additional 126 shares during the last quarter. XTX Topco Ltd purchased a new position in Stantec in the 3rd quarter valued at about $335,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Stantec in the 3rd quarter worth about $877,000. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Price Performance

NYSE STN traded up $0.64 during trading hours on Monday, hitting $85.99. 17,555 shares of the company's stock traded hands, compared to its average volume of 160,499. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. The firm's 50-day moving average is $81.43 and its 200-day moving average is $81.48. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $90.24. The company has a market capitalization of $9.81 billion, a PE ratio of 39.09 and a beta of 1.00.

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Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be given a dividend of $0.1574 per share. This is an increase from Stantec's previous quarterly dividend of $0.16. 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 0.73%. Stantec's dividend payout ratio (DPR) is presently 26.61%.

Analysts Set New Price Targets

Separately, Raymond James raised 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, According to MarketBeat.com, the stock currently has an average 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.