Fmr LLC Lowers Position in Stantec Inc. (NYSE:STN)

Fmr LLC lowered its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 11.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,009,429 shares of the business services provider’s stock after selling 265,089 shares during the quarter. Fmr LLC owned about 1.76% of Stantec worth $161,592,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of STN. Bank of Montreal Can boosted its position in shares of Stantec by 15.1% during 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 purchasing an additional 415,993 shares during the period. The Manufacturers Life Insurance Company boosted its position 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 period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Stantec by 2.8% in the third 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 buying an additional 48,009 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Stantec by 11.1% in 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 buying an additional 93,823 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake 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 in the last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Analyst Upgrades and Downgrades

STN has been the subject of several research reports. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Scotiabank began coverage on shares of Stantec in a research note on Friday, October 25th. They set a “sector outperform” rating on the stock. StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Raymond James lowered Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Stantec Trading Down 1.1 %

Shares of NYSE:STN opened at $85.82 on Wednesday. Stantec Inc. has a 52 week low of $72.80 and a 52 week high of $88.42. The company’s 50 day moving average is $83.14 and its two-hundred day moving average is $82.70. The company has a market cap of $9.79 billion, a PE 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.72%. This is an increase from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, December 31st. Stantec’s payout ratio is 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.