Bank of Nova Scotia Grows Position in Stantec Inc. (NYSE:STN)

Bank of Nova Scotia increased its position in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 169,048 shares of the business services provider's stock after acquiring an additional 4,324 shares during the period. Bank of Nova Scotia owned about 0.15% of Stantec worth $13,261,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in STN. BNP Paribas Financial Markets raised its holdings in shares of Stantec by 19.5% during 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 last quarter. Point72 Asset Management L.P. purchased a new stake in Stantec during the 3rd quarter valued at $479,000. Stifel Financial Corp lifted its holdings 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 valued at $341,000 after buying an additional 126 shares during the period. XTX Topco Ltd purchased a new position in shares of Stantec in the 3rd quarter worth $335,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Stantec in the third quarter worth $877,000. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Stock Performance

Stantec stock traded up $0.76 during midday trading on Tuesday, hitting $86.74. The stock had a trading volume of 90,254 shares, compared to its average volume of 135,269. 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 $9.89 billion, a PE ratio of 39.43 and a beta of 1.00. The firm's fifty day moving average is $81.62 and its two-hundred day moving average is $81.52. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54.

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Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be paid a dividend of $0.1574 per share. This is a boost from Stantec's previous quarterly dividend of $0.16. The ex-dividend date is Friday, March 28th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 0.73%. Stantec's payout ratio is 26.61%.

Analyst Upgrades and Downgrades

Separately, Raymond James upgraded 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, the company presently has an average rating of "Buy".

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.