Pictet Asset Management Holding SA Cuts Holdings in Stantec Inc. (NYSE:STN)

Pictet Asset Management Holding SA reduced its stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,225,992 shares of the business services provider's stock after selling 167,832 shares during the quarter. Pictet Asset Management Holding SA owned approximately 4.58% of Stantec worth $409,807,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of Stantec by 78.4% in the fourth quarter. Blue Trust Inc. now owns 1,739 shares of the business services provider's stock worth $140,000 after buying an additional 764 shares during the period. US Bancorp DE increased its holdings in Stantec by 11.2% in the 4th quarter. US Bancorp DE now owns 2,359 shares of the business services provider's stock worth $185,000 after acquiring an additional 237 shares in the last quarter. FORA Capital LLC bought a new stake in Stantec during the 3rd quarter worth approximately $213,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Stantec during the fourth quarter valued at approximately $212,000. Finally, Sava Infond d.o.o. purchased a new position in Stantec during the fourth quarter valued at approximately $275,000. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Price Performance

Shares of NYSE:STN traded up $0.80 during trading on Tuesday, hitting $83.64. 38,762 shares of the company's stock were exchanged, compared to its average volume of 152,020. The business's 50-day simple moving average is $80.51 and its 200 day simple moving average is $81.27. 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 Inc. has a 52-week low of $73.18 and a 52-week high of $90.24. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 38.02 and a beta of 1.04.

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Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be given a dividend of $0.1574 per share. The ex-dividend date is Friday, March 28th. This represents a $0.63 annualized dividend and a dividend yield of 0.75%. This is a boost from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio (DPR) is presently 26.61%.

Wall Street Analysts Forecast Growth

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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "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.