Vanguard Group Inc. Purchases 74,976 Shares of Stantec Inc. (NYSE:STN)

Vanguard Group Inc. increased its position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,575,078 shares of the business services provider's stock after buying an additional 74,976 shares during the quarter. Vanguard Group Inc. owned 4.01% of Stantec worth $358,951,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Stantec by 11.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider's stock worth $155,433,000 after acquiring an additional 207,470 shares during the last quarter. National Bank of Canada FI increased its position in Stantec by 54.6% in the third quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider's stock worth $116,897,000 after purchasing an additional 513,269 shares during the period. Allianz Asset Management GmbH raised its holdings in Stantec by 5.3% during the 4th quarter. Allianz Asset Management GmbH now owns 981,515 shares of the business services provider's stock worth $76,968,000 after purchasing an additional 48,972 shares during the last quarter. Geode Capital Management LLC lifted its position in Stantec by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider's stock valued at $42,781,000 after purchasing an additional 46,267 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its stake in shares of Stantec by 0.7% in the 4th quarter. Jupiter Asset Management Ltd. now owns 403,099 shares of the business services provider's stock valued at $31,610,000 after purchasing an additional 2,666 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Separately, Raymond James raised shares of Stantec from a "market perform" rating to an "outperform" rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Stantec currently has an average rating of "Buy".

Stantec Trading Down 1.4 %

Shares of Stantec stock traded down $1.15 during trading on Tuesday, hitting $78.64. 263,316 shares of the company were exchanged, compared to its average volume of 133,631. 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 firm has a market capitalization of $8.97 billion, a P/E ratio of 35.74 and a beta of 1.00. The firm's fifty day moving average price is $80.79 and its 200 day moving average price is $81.37. Stantec Inc. has a 1-year low of $73.18 and a 1-year high of $90.24.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be paid a $0.1574 dividend. This represents a $0.63 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio is presently 26.61%.

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.