Addenda Capital Inc. Reduces Position in Stantec Inc. (NYSE:STN)

Addenda Capital Inc. lessened its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,207 shares of the business services provider’s stock after selling 308 shares during the quarter. Addenda Capital Inc. owned approximately 0.09% of Stantec worth $8,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Canoe Financial LP boosted its stake in shares of Stantec by 1,011.1% during the 4th quarter. Canoe Financial LP now owns 83,755 shares of the business services provider’s stock worth $6,567,000 after acquiring an additional 76,217 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Stantec during the 4th quarter worth $531,000. Principal Financial Group Inc. boosted its stake in shares of Stantec by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 278,480 shares of the business services provider’s stock worth $22,419,000 after acquiring an additional 5,150 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Stantec during the 3rd quarter valued at $3,117,000. Finally, Toronto Dominion Bank lifted its stake in shares of Stantec by 198.4% during the 3rd quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock valued at $30,405,000 after buying an additional 251,407 shares in the last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Stock Performance

Shares of NYSE STN opened at $77.49 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $8.84 billion, a P/E ratio of 35.22 and a beta of 1.01. The firm’s fifty day moving average is $81.53 and its two-hundred day moving average is $82.25. Stantec Inc. has a 52-week low of $74.98 and a 52-week high of $88.42.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.155 dividend. This is an increase from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Tuesday, December 31st. Stantec’s payout ratio is currently 26.36%.

Analyst Ratings Changes

STN has been the topic of a number of analyst reports. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Scotiabank initiated coverage on shares of Stantec in a research note on Friday, October 25th. They set a “sector outperform” rating on the stock. Finally, Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report 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 company. Based on data from MarketBeat.com, Stantec 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.