Cumberland Partners Ltd Buys 102,125 Shares of Stantec Inc. (NYSE:STN)

Cumberland Partners Ltd grew its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 1,013.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,200 shares of the business services provider’s stock after acquiring an additional 102,125 shares during the quarter. Cumberland Partners Ltd’s holdings in Stantec were worth $9,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Stantec by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 4,344,568 shares of the business services provider’s stock valued at $360,773,000 after purchasing an additional 133,687 shares during the period. Bank of Montreal Can boosted its position in Stantec by 15.1% during the 2nd quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock worth $265,177,000 after acquiring an additional 415,993 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Stantec by 175.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider’s stock worth $105,850,000 after acquiring an additional 806,869 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Stantec by 11.1% during the 2nd quarter. National Bank of Canada FI now owns 940,461 shares of the business services provider’s stock worth $77,860,000 after purchasing an additional 93,823 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Stantec by 86.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock worth $75,897,000 after purchasing an additional 422,538 shares in the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.

Stantec Price Performance

STN stock traded down $1.00 during midday trading on Tuesday, reaching $81.96. 19,923 shares of the stock were exchanged, compared to its average volume of 118,451. The company has a fifty day moving average price of $81.35 and a 200 day moving average price of $82.41. Stantec Inc. has a 52 week low of $67.54 and a 52 week high of $88.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $9.35 billion, a PE ratio of 37.71 and a beta of 1.02.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 0.76%. Stantec’s payout ratio is presently 28.18%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STN. Scotiabank began coverage on Stantec in a research note on Friday, October 25th. They set a “sector outperform” rating on the stock. StockNews.com cut Stantec from a “buy” rating to a “hold” rating in a research report on Friday. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research note on Monday. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Raymond James downgraded shares of Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.