Stantec Inc. (NYSE:STN) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia increased its stake in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,048 shares of the business services provider’s stock after purchasing an additional 4,324 shares during the quarter. Bank of Nova Scotia owned approximately 0.15% of Stantec worth $13,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its position in shares of Stantec by 3.1% in the third quarter. Stifel Financial Corp now owns 4,245 shares of the business services provider’s stock valued at $341,000 after purchasing an additional 126 shares during the period. Atria Investments Inc increased its stake in shares of Stantec by 4.3% during the 4th quarter. Atria Investments Inc now owns 3,650 shares of the business services provider’s stock valued at $286,000 after acquiring an additional 151 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Stantec by 4.5% during the 4th quarter. Signaturefd LLC now owns 4,041 shares of the business services provider’s stock worth $317,000 after acquiring an additional 175 shares during the period. US Bancorp DE boosted its position in shares of Stantec by 11.2% in the fourth quarter. US Bancorp DE now owns 2,359 shares of the business services provider’s stock worth $185,000 after acquiring an additional 237 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in Stantec by 8.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,739 shares of the business services provider’s stock valued at $293,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 63.86% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James raised shares of Stantec from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Stantec Stock Down 2.3 %

Shares of Stantec stock opened at $83.32 on Friday. 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 has a market cap of $9.50 billion, a P/E ratio of 37.87 and a beta of 1.00. 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 price of $81.24 and a 200 day moving average price of $81.44.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be paid a $0.1574 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 0.76%. This is a boost from Stantec’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, March 28th. Stantec’s dividend payout ratio (DPR) is presently 26.61%.

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.