Stantec Inc. (NYSE:STN) Shares Sold by Korea Investment CORP

Korea Investment CORP trimmed its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,545 shares of the business services provider’s stock after selling 800 shares during the period. Korea Investment CORP owned approximately 0.11% of Stantec worth $9,531,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canoe Financial LP boosted its position in shares of Stantec by 1,011.1% during the 4th quarter. Canoe Financial LP now owns 83,755 shares of the business services provider’s stock valued at $6,567,000 after purchasing an additional 76,217 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Stantec by 198.4% during the third quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock worth $30,405,000 after buying an additional 251,407 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Stantec by 8.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,739 shares of the business services provider’s stock worth $293,000 after buying an additional 300 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Stantec in the third quarter valued at $479,000. Finally, Geode Capital Management LLC lifted its position in shares of Stantec by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider’s stock valued at $42,781,000 after acquiring an additional 46,267 shares during the last quarter. 63.86% of the stock is owned by institutional investors.

Stantec Stock Performance

Shares of STN opened at $82.95 on Tuesday. The company has a 50-day moving average of $80.51 and a two-hundred day moving average of $81.27. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of 37.70 and a beta of 1.04. 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 Inc. has a one year low of $73.18 and a one year high of $90.24.

Stantec Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Raymond James upgraded Stantec from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “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.