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

CIBC Asset Management Inc trimmed its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 140,758 shares of the business services provider’s stock after selling 1,473 shares during the quarter. CIBC Asset Management Inc’s holdings in Stantec were worth $11,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of STN. O Shaughnessy Asset Management LLC raised its position in shares of Stantec by 33.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 76,772 shares of the business services provider’s stock worth $6,375,000 after purchasing an additional 19,407 shares during the period. Acadian Asset Management LLC raised its position in shares of Stantec by 488.2% during the first quarter. Acadian Asset Management LLC now owns 20,000 shares of the business services provider’s stock worth $1,659,000 after purchasing an additional 16,600 shares during the period. Compagnie Lombard Odier SCmA raised its position in Stantec by 81.8% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 14,125 shares of the business services provider’s stock valued at $1,137,000 after buying an additional 6,354 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Stantec by 5.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock valued at $324,000 after buying an additional 196 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of 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 valued at $105,850,000 after purchasing an additional 806,869 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors.

Stantec Stock Down 0.7 %

STN stock opened at $82.31 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.42. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 37.41 and a beta of 1.02. Stantec Inc. has a fifty-two week low of $67.54 and a fifty-two week high of $88.42. The stock has a fifty day moving average of $81.58 and a 200-day moving average of $82.44.

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 paid a $0.155 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 annualized dividend and a yield of 0.75%. This is an increase from Stantec’s previous quarterly dividend of $0.15. Stantec’s dividend payout ratio (DPR) is currently 28.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a research report on Saturday. Scotiabank started coverage on Stantec in a research report on Friday, October 25th. They set a “sector outperform” rating for the company. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Raymond James downgraded Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.