BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 8,789 Shares of Stantec Inc. (NYSE:STN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,415 shares of the business services provider’s stock after selling 8,789 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Stantec were worth $4,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in Stantec in the 2nd quarter worth $51,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Stantec in the second quarter worth about $71,000. Blue Trust Inc. grew its position 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 worth $81,000 after purchasing an additional 867 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Stantec by 45.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock valued at $83,000 after purchasing an additional 326 shares during the period. Finally, US Bancorp DE raised its stake in Stantec by 30.3% during the 3rd quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 493 shares during the period. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Analysts Set New Price Targets

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

Stantec Price Performance

Stantec stock opened at $86.75 on Tuesday. Stantec Inc. has a 52-week low of $72.80 and a 52-week high of $88.42. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average is $83.04 and its 200 day moving average is $82.66. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 39.43 and a beta of 0.99.

Stantec Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 0.71%. This is a boost from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. Stantec’s dividend payout ratio is currently 28.18%.

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.