Canoe Financial LP Has $6.57 Million Holdings in Stantec Inc. (NYSE:STN)

Canoe Financial LP grew its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 1,011.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 83,755 shares of the business services provider’s stock after acquiring an additional 76,217 shares during the period. Canoe Financial LP’s holdings in Stantec were worth $6,567,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Stantec by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 215,049 shares of the business services provider’s stock valued at $17,968,000 after acquiring an additional 27,060 shares in the last quarter. Intech Investment Management LLC grew its position in Stantec by 301.8% in the second quarter. Intech Investment Management LLC now owns 11,255 shares of the business services provider’s stock worth $942,000 after acquiring an additional 8,454 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Stantec by 12.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock worth $103,000 after purchasing an additional 129 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Stantec during the 2nd quarter valued at $276,000. Finally, Bank of Montreal Can lifted its stake in shares of Stantec by 15.1% in the 2nd quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock valued at $265,177,000 after purchasing an additional 415,993 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Scotiabank initiated coverage on Stantec in a report on Friday, October 25th. They issued a “sector outperform” rating for the company. Finally, StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Stantec Stock Up 1.2 %

STN stock opened at $77.49 on Friday. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 35.22 and a beta of 1.01. The company has a 50-day moving average of $81.64 and a two-hundred day moving average of $82.33. Stantec Inc. has a 52-week low of $74.98 and a 52-week high of $88.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42.

Stantec Increases Dividend

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

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.