Stantec Inc. (NYSE:STN) Shares Purchased by Scotia Capital Inc.

Scotia Capital Inc. increased its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,860 shares of the business services provider's stock after buying an additional 9,851 shares during the quarter. Scotia Capital Inc. owned about 0.14% of Stantec worth $12,066,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

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

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Stantec Stock Performance

STN stock traded up $0.76 during trading on Tuesday, hitting $86.74. 115,220 shares of the company traded hands, compared to its average volume of 135,269. Stantec Inc. has a 1 year low of $73.18 and a 1 year high of $90.24. The company has a market cap of $9.89 billion, a PE ratio of 39.43 and a beta of 1.00. The stock's 50-day simple moving average is $81.62 and its 200 day simple moving average is $81.52. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42.

Stantec Increases Dividend

The company also recently announced 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 0.73%. This is a positive change from Stantec's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, March 28th. Stantec's payout ratio is 26.61%.

About Stantec

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.