Invesco Ltd. Sells 303,238 Shares of Stantec Inc. (NYSE:STN)

Invesco Ltd. lowered its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 30.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 683,653 shares of the business services provider's stock after selling 303,238 shares during the quarter. Invesco Ltd. owned approximately 0.60% of Stantec worth $53,633,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in STN. Stifel Financial Corp grew its holdings in Stantec by 3.1% during the third quarter. Stifel Financial Corp now owns 4,245 shares of the business services provider's stock valued at $341,000 after purchasing an additional 126 shares during the period. XTX Topco Ltd bought a new stake in Stantec in the 3rd quarter valued at about $335,000. Public Employees Retirement System of Ohio purchased a new stake in Stantec during the third quarter valued at about $877,000. Barclays PLC boosted its position in Stantec by 73.2% during the third quarter. Barclays PLC now owns 31,001 shares of the business services provider's stock worth $2,493,000 after purchasing an additional 13,107 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Stantec by 9.7% in the third quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider's stock worth $42,781,000 after purchasing an additional 46,267 shares in the last quarter. Institutional investors own 63.86% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James upgraded shares of 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, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

Stantec Price Performance

STN stock traded down $0.85 during mid-day trading on Monday, reaching $86.47. 11,033 shares of the company traded hands, compared to its average volume of 136,408. 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 $9.86 billion, a P/E ratio of 39.36 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. The company has a fifty day moving average price of $82.41 and a 200-day moving average price of $81.69.

Stantec Increases Dividend

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

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.