Principal Financial Group Inc. Buys 5,150 Shares of Stantec Inc. (NYSE:STN)

Principal Financial Group Inc. grew its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 1.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 278,480 shares of the business services provider’s stock after acquiring an additional 5,150 shares during the period. Principal Financial Group Inc. owned 0.24% of Stantec worth $22,419,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Stantec in the second quarter valued at approximately $71,000. Blue Trust Inc. raised its stake in shares of Stantec by 802.8% during the third quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock valued at $81,000 after acquiring an additional 867 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Stantec by 12.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock worth $103,000 after purchasing an additional 129 shares during the period. US Bancorp DE grew 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 worth $171,000 after purchasing an additional 493 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new stake in Stantec in the third quarter valued at $211,000. Institutional investors own 63.86% of the company’s stock.

Analyst Ratings Changes

STN has been the topic of several recent research reports. Canaccord Genuity Group raised 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 report on Saturday, November 16th. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Scotiabank began coverage on shares of Stantec in a research report on Friday, October 25th. They issued a “sector outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Stantec Stock Performance

Shares of Stantec stock opened at $79.58 on Thursday. The company has a market cap of $9.08 billion, a P/E ratio of 36.17 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. The business has a 50-day moving average price of $83.34 and a two-hundred day moving average price of $82.91. Stantec Inc. has a 1-year low of $76.03 and a 1-year high of $88.42.

Stantec Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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. This represents a $0.62 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Tuesday, December 31st. Stantec’s payout ratio is presently 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.