Canoe Financial LP Raises Stake in Stantec Inc. (NYSE:STN)

Canoe Financial LP lifted its stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 1,011.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,755 shares of the business services provider's stock after purchasing an additional 76,217 shares during the period. Canoe Financial LP owned about 0.07% of Stantec worth $6,567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Stantec in the 2nd quarter valued at about $71,000. Blue Trust Inc. raised its holdings in Stantec by 802.8% in the third quarter. Blue Trust Inc. now owns 975 shares of the business services provider's stock valued at $81,000 after acquiring an additional 867 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Stantec by 12.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider's stock valued at $103,000 after acquiring an additional 129 shares in the last quarter. US Bancorp DE lifted its stake in Stantec by 30.3% in the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider's stock worth $171,000 after acquiring an additional 493 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in Stantec during the 3rd quarter worth approximately $211,000. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Stock Up 1.2 %

Shares of NYSE STN traded up $0.89 during mid-day trading on Friday, reaching $77.49. The company had a trading volume of 83,151 shares, compared to its average volume of 96,277. The firm has a 50 day simple moving average of $81.64 and a two-hundred day simple moving average of $82.33. Stantec Inc. has a 52-week low of $74.98 and a 52-week high of $88.42. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. The stock has a market cap of $8.84 billion, a P/E ratio of 35.22 and a beta of 1.01.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.155 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.80%. This is a boost from Stantec's previous quarterly dividend of $0.15. Stantec's payout ratio is 26.36%.

Analyst Upgrades and Downgrades

STN has been the topic of a number of analyst reports. Canaccord Genuity Group upgraded shares of Stantec from a "hold" rating to a "buy" rating in a report on Monday, November 11th. StockNews.com upgraded Stantec from a "hold" rating to a "buy" rating in a research note on Saturday, November 16th. Scotiabank began coverage on Stantec in a research report on Friday, October 25th. They set a "sector outperform" rating for the company. Finally, Canaccord Genuity Group raised Stantec from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

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.