Principal Financial Group Inc. Grows Holdings in Stantec Inc. (NYSE:STN)

Principal Financial Group Inc. raised its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,480 shares of the business services provider’s stock after buying an additional 5,150 shares during the period. Principal Financial Group Inc.’s holdings in Stantec were worth $22,419,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 129 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Stantec by 5.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 196 shares in the last quarter. Legacy Capital Group California Inc. boosted its stake in shares of Stantec by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,298 shares of the business services provider’s stock valued at $276,000 after buying an additional 211 shares during the last quarter. US Bancorp DE grew its position in shares of Stantec by 30.3% during the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock worth $171,000 after buying an additional 493 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Stantec by 6.0% in the second quarter. Creative Planning now owns 10,628 shares of the business services provider’s stock worth $888,000 after buying an additional 605 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on STN shares. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank initiated coverage on Stantec in a research note on Friday, October 25th. They set a “sector outperform” rating on the stock. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research report on Monday. StockNews.com lowered Stantec from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Raymond James cut Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Stantec Stock Performance

Shares of NYSE STN opened at $82.59 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average price is $81.42 and its two-hundred day moving average price is $82.41. Stantec Inc. has a 52-week low of $67.54 and a 52-week high of $88.42. The stock has a market capitalization of $9.42 billion, a P/E ratio of 37.54 and a beta of 1.02.

Stantec Increases Dividend

The business 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 $0.155 dividend. This is an increase from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 annualized dividend and a dividend yield of 0.75%. Stantec’s dividend payout ratio (DPR) is 28.18%.

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.