JPMorgan Chase & Co. Sells 56,435 Shares of Stantec Inc. (NYSE:STN)

JPMorgan Chase & Co. lessened its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 9.4% in the third quarter, HoldingsChannel reports. The fund owned 541,065 shares of the business services provider’s stock after selling 56,435 shares during the period. JPMorgan Chase & Co.’s holdings in Stantec were worth $43,507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Candriam S.C.A. boosted its stake in Stantec by 243.8% in the 2nd quarter. Candriam S.C.A. now owns 204,405 shares of the business services provider’s stock valued at $17,108,000 after purchasing an additional 144,948 shares during the period. Acadian Asset Management LLC boosted its position in shares of Stantec by 370.0% in the second quarter. Acadian Asset Management LLC now owns 94,000 shares of the business services provider’s stock valued at $7,865,000 after acquiring an additional 74,000 shares during the period. Caprock Group LLC acquired a new position in shares of Stantec in the second quarter valued at about $879,000. Jupiter Asset Management Ltd. increased its position in Stantec by 8.6% during the second quarter. Jupiter Asset Management Ltd. now owns 340,812 shares of the business services provider’s stock worth $28,526,000 after acquiring an additional 27,019 shares during the period. Finally, Forsta AP Fonden boosted its holdings in Stantec by 145.3% in the 2nd quarter. Forsta AP Fonden now owns 36,800 shares of the business services provider’s stock valued at $3,080,000 after purchasing an additional 21,800 shares during the period. Institutional investors and hedge funds own 63.86% of the company’s stock.

Stantec Stock Performance

Shares of Stantec stock opened at $79.19 on Monday. 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 company has a market cap of $9.03 billion, a PE ratio of 36.00 and a beta of 1.01. The company has a 50 day moving average of $82.75 and a 200-day moving average of $82.73. 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.155 dividend. This is a positive change from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.62 annualized dividend and a dividend yield of 0.78%. Stantec’s dividend payout ratio (DPR) is presently 28.18%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Stantec in a report on Friday, October 25th. They set a “sector outperform” rating on the stock. StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

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.