Toronto Dominion Bank Buys 251,407 Shares of Stantec Inc. (NYSE:STN)

Toronto Dominion Bank lifted its position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 198.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 378,119 shares of the business services provider's stock after acquiring an additional 251,407 shares during the quarter. Toronto Dominion Bank owned approximately 0.33% of Stantec worth $30,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Triad Wealth Partners LLC acquired a new position in shares of Stantec during the second quarter worth $51,000. Northwestern Mutual Wealth Management Co. bought a new position in Stantec during the 2nd quarter worth $71,000. Blue Trust Inc. lifted its holdings in Stantec by 802.8% during the 3rd quarter. Blue Trust Inc. now owns 975 shares of the business services provider's stock worth $81,000 after buying an additional 867 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Stantec by 12.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider's stock valued at $103,000 after buying an additional 129 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Stantec by 30.3% in the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider's stock valued at $171,000 after buying an additional 493 shares during the period. Institutional investors own 63.86% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on STN shares. 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 assumed coverage on Stantec in a research note on Friday, October 25th. They issued 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Stantec Stock Performance

Shares of Stantec stock traded down $1.34 during mid-day trading on Thursday, hitting $83.21. 164,631 shares of the stock were exchanged, compared to its average volume of 121,372. Stantec Inc. has a 12 month low of $74.62 and a 12 month high of $88.42. The company has a 50-day simple moving average of $83.79 and a 200 day simple moving average of $82.91. The company has a market capitalization of $9.49 billion, a P/E ratio of 37.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42.

Stantec Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.155 per share. This is a positive change 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 28.18%.

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.