CIBC Asset Management Inc Sells 1,473 Shares of Stantec Inc. (NYSE:STN)

CIBC Asset Management Inc decreased its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,758 shares of the business services provider’s stock after selling 1,473 shares during the period. CIBC Asset Management Inc owned approximately 0.12% of Stantec worth $11,324,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cumberland Partners Ltd increased its position in 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 buying an additional 102,125 shares during the period. Principal Financial Group Inc. increased its position in shares of Stantec by 1.9% in the third quarter. Principal Financial Group Inc. now owns 278,480 shares of the business services provider’s stock worth $22,419,000 after purchasing an additional 5,150 shares during the period. US Bancorp DE increased its position in shares of Stantec by 30.3% in the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock worth $171,000 after purchasing an additional 493 shares during the period. First Trust Direct Indexing L.P. bought a new position in shares of Stantec in the third quarter worth $211,000. Finally, Forsta AP Fonden increased its position in shares of Stantec by 14.4% in the third quarter. Forsta AP Fonden now owns 42,100 shares of the business services provider’s stock worth $3,389,000 after purchasing an additional 5,300 shares during the period. Institutional investors own 63.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on STN. Raymond James cut Stantec from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 8th. Scotiabank began coverage on Stantec in a research report on Friday, October 25th. They issued a “sector outperform” rating on the stock. StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Stantec has an average rating of “Moderate Buy”.

Stantec Stock Performance

Stantec stock opened at $82.31 on Friday. Stantec Inc. has a 12-month low of $67.54 and a 12-month high of $88.42. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $81.58 and its two-hundred day moving average price is $82.44. The stock has a market cap of $9.39 billion, a PE ratio of 37.41 and a beta of 1.02.

Stantec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.155 per share. This is a boost from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, December 31st. Stantec’s payout ratio is 28.18%.

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.