Aigen Investment Management LP Makes New $1.22 Million Investment in Stantec Inc. (NYSE:STN)

Aigen Investment Management LP purchased a new position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,544 shares of the business services provider’s stock, valued at approximately $1,220,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STN. The Manufacturers Life Insurance Company increased its stake in 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 acquiring an additional 1,536,475 shares during the last quarter. National Bank of Canada FI lifted its holdings in Stantec by 54.6% during the 3rd quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock worth $116,897,000 after buying an additional 513,269 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Stantec by 198.4% during the 3rd quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock worth $30,405,000 after buying an additional 251,407 shares during the last quarter. Cumberland Partners Ltd raised its position in shares of Stantec by 1,013.6% during the 3rd quarter. Cumberland Partners Ltd now owns 112,200 shares of the business services provider’s stock worth $9,031,000 after purchasing an additional 102,125 shares during the period. Finally, Northwest & Ethical Investments L.P. raised its position in shares of Stantec by 79.1% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 198,539 shares of the business services provider’s stock worth $15,966,000 after purchasing an additional 87,709 shares during the period. 63.86% of the stock is currently owned by institutional investors and hedge funds.

Stantec Price Performance

Shares of NYSE:STN opened at $83.31 on Thursday. Stantec Inc. has a fifty-two week low of $73.18 and a fifty-two week high of $90.24. The business has a 50-day moving average of $78.61 and a two-hundred day moving average of $81.07. The stock has a market capitalization of $9.50 billion, a P/E ratio of 37.87 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42.

Stantec Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be given a dividend of $0.1574 per share. This represents a $0.63 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Stantec’s previous quarterly dividend of $0.16. Stantec’s payout ratio is currently 26.61%.

Analysts Set New Price Targets

STN has been the topic of several recent analyst reports. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Raymond James upgraded Stantec from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “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.