Stantec Inc. (NYSE:STN) Shares Sold by Fmr LLC

Fmr LLC trimmed its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 11.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,009,429 shares of the business services provider’s stock after selling 265,089 shares during the quarter. Fmr LLC’s holdings in Stantec were worth $161,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of Montreal Can increased its stake in Stantec by 15.1% in 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 period. The Manufacturers Life Insurance Company grew its holdings in shares of Stantec by 121.3% during the third quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock worth $225,537,000 after buying an additional 1,536,475 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Stantec by 2.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider’s stock valued at $142,817,000 after acquiring an additional 48,009 shares during the period. National Bank of Canada FI raised its stake in Stantec by 11.1% during the 2nd quarter. National Bank of Canada FI now owns 940,461 shares of the business services provider’s stock valued at $77,860,000 after acquiring an additional 93,823 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Stantec by 86.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock worth $75,897,000 after acquiring an additional 422,538 shares during the period. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on STN shares. Scotiabank assumed coverage on shares of Stantec in a research report on Friday, October 25th. They issued a “sector outperform” rating on the stock. StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Raymond James downgraded Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stantec currently has an average rating of “Moderate Buy”.

Stantec Price Performance

STN stock opened at $85.82 on Wednesday. The firm has a 50 day moving average of $83.14 and a 200-day moving average of $82.70. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 39.01 and a beta of 0.99. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. Stantec Inc. has a 12-month low of $72.80 and a 12-month high of $88.42.

Stantec Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, December 31st. This is a boost from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 0.72%. Stantec’s payout ratio is currently 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.