Jennison Associates LLC lowered its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 16.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,175 shares of the business services provider's stock after selling 18,813 shares during the quarter. Jennison Associates LLC owned approximately 0.09% of Stantec worth $7,895,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA lifted its position in Stantec by 81.8% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 14,125 shares of the business services provider's stock valued at $1,137,000 after purchasing an additional 6,354 shares during the period. Assenagon Asset Management S.A. lifted its position in Stantec by 5.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider's stock valued at $324,000 after purchasing an additional 196 shares during the period. The Manufacturers Life Insurance Company lifted its position in Stantec by 175.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider's stock valued at $105,850,000 after purchasing an additional 806,869 shares during the period. Candriam S.C.A. lifted its position in Stantec by 243.8% during the 2nd 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, Forsta AP Fonden lifted its position in Stantec by 145.3% during the 2nd quarter. Forsta AP Fonden now owns 36,800 shares of the business services provider's stock valued at $3,080,000 after purchasing an additional 21,800 shares during the period. Institutional investors own 63.86% of the company's stock.
Stantec Stock Down 0.1 %
Shares of STN traded down $0.06 during mid-day trading on Friday, hitting $85.97. 84,743 shares of the company's stock were exchanged, compared to its average volume of 132,767. The company has a market cap of $9.81 billion, a PE ratio of 39.08 and a beta of 1.02. Stantec Inc. has a 52 week low of $69.30 and a 52 week high of $88.42. The company has a 50-day simple moving average of $82.26 and a 200 day simple moving average of $82.49. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.72%. This is a boost from Stantec's previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. Stantec's payout ratio is 28.18%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Canaccord Genuity Group upgraded shares of Stantec from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Stantec from a "hold" rating to a "buy" rating in a research report on Saturday, November 16th. Canaccord Genuity Group upgraded shares of Stantec from a "hold" rating to a "buy" rating in a report on Monday, November 11th. Scotiabank initiated coverage on shares of Stantec in a report on Friday, October 25th. They set a "sector outperform" rating on the stock. Finally, Raymond James cut shares of Stantec from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Stantec currently has an average rating of "Moderate Buy".
Check Out Our Latest Stock Analysis on STN
About Stantec
(
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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