Jennison Associates LLC lowered its stake in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 16.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,175 shares of the business services provider's stock after selling 18,813 shares during the period. Jennison Associates LLC owned about 0.09% of Stantec worth $7,895,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Triad Wealth Partners LLC acquired a new stake in Stantec during the second quarter valued at $51,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Stantec during the 2nd quarter valued at about $71,000. Blue Trust Inc. grew its stake in shares of Stantec by 802.8% in the 3rd quarter. Blue Trust Inc. now owns 975 shares of the business services provider's stock valued at $81,000 after buying an additional 867 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Stantec by 45.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider's stock worth $83,000 after buying an additional 326 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in Stantec by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider's stock valued at $133,000 after acquiring an additional 800 shares in the last quarter. 63.86% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. Raymond James downgraded shares of Stantec from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 8th. 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 research report on Monday, November 11th. Scotiabank began coverage on Stantec in a report on Friday, October 25th. They set a "sector outperform" rating on the stock. 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 assigned a buy rating to the company. According to data from MarketBeat.com, Stantec presently has an average rating of "Moderate Buy".
View Our Latest Stock Analysis on Stantec
STN stock opened at $85.92 on Friday. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 38.98 and a beta of 1.02. The company has a 50-day moving average of $82.09 and a two-hundred day moving average of $82.48. Stantec Inc. has a 52-week low of $69.30 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.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued 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 yield of 0.72%. This is a positive change from Stantec's previous quarterly dividend of $0.15. Stantec's dividend payout ratio (DPR) is 28.18%.
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.
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