Bank of Montreal Can Boosts Stock Position in Stantec Inc. (NYSE:STN)

Bank of Montreal Can grew its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 9.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,496,408 shares of the business services provider’s stock after buying an additional 302,979 shares during the period. Bank of Montreal Can’s holdings in Stantec were worth $273,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. purchased a new stake in Stantec during the fourth quarter worth approximately $205,000. Aviva PLC purchased a new stake in shares of Stantec during the 4th quarter worth approximately $5,029,000. Geode Capital Management LLC boosted its holdings in shares of Stantec by 31.7% in the 4th quarter. Geode Capital Management LLC now owns 689,644 shares of the business services provider’s stock valued at $55,465,000 after buying an additional 166,063 shares in the last quarter. National Bank of Canada FI grew its position in shares of Stantec by 1.8% in the 4th quarter. National Bank of Canada FI now owns 1,479,729 shares of the business services provider’s stock valued at $116,207,000 after buying an additional 25,999 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Stantec by 25.2% in the 4th quarter. Franklin Resources Inc. now owns 55,573 shares of the business services provider’s stock valued at $4,355,000 after buying an additional 11,179 shares during the last quarter. 63.86% of the stock is owned by institutional investors and hedge funds.

Stantec Price Performance

Shares of NYSE STN opened at $80.31 on Monday. The stock has a market cap of $9.16 billion, a P/E ratio of 36.51 and a beta of 1.00. Stantec Inc. has a twelve month low of $73.18 and a twelve month high of $90.24. The stock has a 50 day moving average of $80.78 and a two-hundred day moving average of $81.40. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be paid a dividend of $0.1574 per share. The ex-dividend date is Friday, March 28th. This represents a $0.63 dividend on an annualized basis and a yield of 0.78%. This is a boost from Stantec’s previous quarterly dividend of $0.16. Stantec’s dividend payout ratio is currently 26.61%.

Wall Street Analyst Weigh In

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

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.