Jennison Associates LLC Sells 18,813 Shares of Stantec Inc. (NYSE:STN)

Jennison Associates LLC trimmed its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 16.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,175 shares of the business services provider’s stock after selling 18,813 shares during the period. Jennison Associates LLC’s holdings in Stantec were worth $7,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in Stantec by 900.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,000 shares of the business services provider’s stock worth $330,000 after buying an additional 3,600 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Stantec by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 4,344,568 shares of the business services provider’s stock worth $360,773,000 after purchasing an additional 133,687 shares in the last quarter. UniSuper Management Pty Ltd grew its holdings in shares of Stantec by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock worth $133,000 after purchasing an additional 800 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Stantec by 7.4% in the first quarter. Advisors Asset Management Inc. now owns 37,145 shares of the business services provider’s stock valued at $3,085,000 after purchasing an additional 2,562 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Stantec by 45.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock valued at $83,000 after purchasing an additional 326 shares in the last quarter. Institutional investors own 63.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Raymond James lowered shares of Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Scotiabank began coverage on shares of Stantec in a research note on Friday, October 25th. They issued a “sector outperform” rating on the stock. StockNews.com upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research note 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Stantec presently has a consensus rating of “Moderate Buy”.

Stantec Trading Down 0.1 %

Shares of Stantec stock opened at $85.92 on Friday. The stock has a market capitalization of $9.80 billion, a P/E ratio of 38.98 and a beta of 1.02. Stantec Inc. has a 12-month low of $69.30 and a 12-month high of $88.42. 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 company has a 50-day simple moving average of $82.09 and a 200 day simple moving average of $82.48.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from Stantec’s previous quarterly dividend of $0.15. Stantec’s payout ratio is 28.18%.

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.