Cumberland Partners Ltd Raises Holdings in Stantec Inc. (NYSE:STN)

Cumberland Partners Ltd lifted its stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 1,013.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,200 shares of the business services provider's stock after purchasing an additional 102,125 shares during the period. Cumberland Partners Ltd owned approximately 0.10% of Stantec worth $9,031,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Stantec by 8.4% during the 1st quarter. BNP Paribas Financial Markets now owns 10,035 shares of the business services provider's stock worth $833,000 after acquiring an additional 779 shares during the period. Quantbot Technologies LP lifted its stake in shares of Stantec by 17.9% in the 1st quarter. Quantbot Technologies LP now owns 11,910 shares of the business services provider's stock valued at $989,000 after purchasing an additional 1,807 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Stantec in the first quarter valued at about $235,000. Russell Investments Group Ltd. increased its stake in Stantec by 3.7% in the 1st quarter. Russell Investments Group Ltd. now owns 342,455 shares of the business services provider's stock valued at $28,494,000 after purchasing an additional 12,208 shares in the last quarter. Finally, Pembroke Management LTD grew its position in Stantec by 4.7% in the 1st quarter. Pembroke Management LTD now owns 7,599 shares of the business services provider's stock valued at $631,000 after purchasing an additional 342 shares during the period. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STN. StockNews.com downgraded Stantec from a "buy" rating to a "hold" rating in a report on Friday. Canaccord Genuity Group upgraded Stantec from a "hold" rating to a "buy" rating in a research note on Monday. Scotiabank started coverage on shares of Stantec in a report on Friday, October 25th. They set a "sector outperform" rating for the company. Raymond James lowered shares of Stantec from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group raised Stantec from a "hold" rating to a "buy" rating in a report on Monday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Stantec Stock Performance

NYSE STN traded down $0.66 during trading on Tuesday, hitting $82.30. The company's stock had a trading volume of 122,421 shares, compared to its average volume of 118,904. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9.39 billion, a P/E ratio of 37.71 and a beta of 1.02. Stantec Inc. has a 52 week low of $67.54 and a 52 week high of $88.42. The firm has a 50 day moving average price of $81.35 and a 200 day moving average price of $82.41.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.155 dividend. This is an increase from Stantec's previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, December 31st. Stantec's dividend payout ratio (DPR) is currently 28.18%.

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.