Stantec Inc. (NYSE:STN) Shares Bought by Canoe Financial LP

Canoe Financial LP lifted its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 1,011.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Stantec by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 215,049 shares of the business services provider’s stock worth $17,968,000 after buying an additional 27,060 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Stantec by 301.8% during the 2nd quarter. Intech Investment Management LLC now owns 11,255 shares of the business services provider’s stock worth $942,000 after acquiring an additional 8,454 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 worth $103,000 after acquiring an additional 129 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Stantec during the second quarter worth $276,000. Finally, Bank of Montreal Can lifted its holdings in shares of Stantec by 15.1% during the second quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock valued at $265,177,000 after purchasing an additional 415,993 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STN has been the topic of a number of analyst reports. StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Scotiabank started coverage on shares of Stantec in a report on Friday, October 25th. They set a “sector outperform” rating on the stock. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Stantec Trading Up 1.2 %

NYSE:STN opened at $77.49 on Friday. The stock has a market cap of $8.84 billion, a PE ratio of 35.22 and a beta of 1.01. Stantec Inc. has a fifty-two week low of $74.98 and a fifty-two week high of $88.42. 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 stock’s 50-day moving average is $81.64 and its two-hundred day moving average is $82.33.

Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.80%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Stantec’s previous quarterly dividend of $0.15. Stantec’s dividend payout ratio is currently 26.36%.

Stantec 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.