Stantec Inc. (NYSE:STN) Position Increased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. raised its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,657 shares of the business services provider’s stock after purchasing an additional 955 shares during the period. Avantax Advisory Services Inc.’s holdings in Stantec were worth $1,385,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in Stantec by 121.3% during the third quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock valued at $225,537,000 after purchasing an additional 1,536,475 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Stantec by 2.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider’s stock valued at $142,817,000 after purchasing an additional 48,009 shares during the last quarter. National Bank of Canada FI increased its stake in Stantec by 54.6% during the third quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock valued at $116,897,000 after purchasing an additional 513,269 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Stantec by 5.3% during the fourth quarter. Allianz Asset Management GmbH now owns 981,515 shares of the business services provider’s stock valued at $76,968,000 after purchasing an additional 48,972 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Stantec by 9.7% during the third quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider’s stock worth $42,781,000 after acquiring an additional 46,267 shares during the last quarter. Institutional investors own 63.86% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James upgraded shares of Stantec from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Stantec presently has an average rating of “Buy”.

Stantec Stock Down 1.4 %

Stantec stock opened at $82.51 on Wednesday. The company has a 50-day simple moving average of $79.39 and a 200-day simple moving average of $81.00. The firm has a market capitalization of $9.41 billion, a P/E ratio of 37.50 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42. Stantec Inc. has a one year low of $73.18 and a one year high of $90.24.

Stantec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be given a dividend of $0.1574 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.63 annualized dividend and a dividend yield of 0.76%. This is a positive change from Stantec’s previous quarterly dividend of $0.16. Stantec’s dividend payout ratio is currently 26.61%.

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.