Intech Investment Management LLC Sells 5,839 Shares of Stantec Inc. (NYSE:STN)

Intech Investment Management LLC cut its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 51.9% in the third quarter, Holdings Channel reports. The institutional investor owned 5,416 shares of the business services provider’s stock after selling 5,839 shares during the period. Intech Investment Management LLC’s holdings in Stantec were worth $436,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in STN. The Manufacturers Life Insurance Company boosted its position in Stantec by 175.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider’s stock valued at $105,850,000 after buying an additional 806,869 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Stantec by 86.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock worth $75,897,000 after buying an additional 422,538 shares during the period. Bank of Montreal Can raised its stake in Stantec by 15.1% in the 2nd quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock worth $265,177,000 after acquiring an additional 415,993 shares during the last quarter. Candriam S.C.A. lifted its position in Stantec by 243.8% during the 2nd quarter. Candriam S.C.A. now owns 204,405 shares of the business services provider’s stock worth $17,108,000 after acquiring an additional 144,948 shares during the period. Finally, Cumberland Partners Ltd grew its stake in Stantec by 1,013.6% during the 3rd quarter. Cumberland Partners Ltd now owns 112,200 shares of the business services provider’s stock valued at $9,031,000 after purchasing an additional 102,125 shares during the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

Stantec Trading Down 0.3 %

Shares of NYSE STN opened at $86.75 on Tuesday. The stock has a fifty day simple moving average of $83.04 and a 200-day simple moving average of $82.66. Stantec Inc. has a twelve month low of $72.80 and a twelve month high of $88.42. 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 stock has a market capitalization of $9.90 billion, a PE ratio of 39.43 and a beta of 1.02.

Stantec Increases Dividend

The firm also recently announced 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 represents a $0.62 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stantec’s previous quarterly dividend of $0.15. Stantec’s dividend payout ratio is 28.18%.

Wall Street Analyst Weigh In

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

Stantec Company 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.