Investment Management Corp of Ontario Lowers Stock Position in Stantec Inc. (NYSE:STN)

Investment Management Corp of Ontario reduced its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,447 shares of the business services provider’s stock after selling 600 shares during the quarter. Investment Management Corp of Ontario’s holdings in Stantec were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Janus Henderson Group PLC bought a new stake in Stantec in the fourth quarter valued at $56,191,000. Graham Capital Management L.P. bought a new position in Stantec in the 4th quarter worth about $207,000. Deutsche Bank AG boosted its stake in Stantec by 13.4% in the 4th quarter. Deutsche Bank AG now owns 311,713 shares of the business services provider’s stock worth $24,454,000 after purchasing an additional 36,738 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Stantec in the 4th quarter worth about $1,191,000. Finally, Bank of America Corp DE lifted its stake in Stantec by 11.7% during the 4th quarter. Bank of America Corp DE now owns 544,507 shares of the business services provider’s stock valued at $42,717,000 after acquiring an additional 57,166 shares during the period. 63.86% of the stock is owned by hedge funds and other institutional investors.

Stantec Stock Performance

STN stock opened at $94.73 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50-day moving average price of $85.59 and a 200 day moving average price of $82.52. The company has a market capitalization of $10.81 billion, a P/E ratio of 43.06 and a beta of 0.98. Stantec Inc. has a 1-year low of $73.18 and a 1-year high of $95.53.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th were issued a $0.1574 dividend. The ex-dividend date of this dividend was Friday, March 28th. This is an increase from Stantec’s previous quarterly dividend of $0.16. This represents a $0.63 dividend on an annualized basis and a yield of 0.66%. Stantec’s payout ratio is currently 26.61%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on STN shares. Scotiabank reiterated an “outperform” rating on shares of Stantec in a research note on Wednesday, May 7th. Raymond James raised shares of Stantec from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Stantec currently has a consensus 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.