US Bancorp DE Grows Stake in Stantec Inc. (NYSE:STN)

US Bancorp DE raised its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 30.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,122 shares of the business services provider’s stock after acquiring an additional 493 shares during the period. US Bancorp DE’s holdings in Stantec were worth $171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in STN. EverSource Wealth Advisors LLC lifted its stake in Stantec by 12.4% in the second 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. Assenagon Asset Management S.A. lifted its stake in shares of Stantec by 5.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock worth $324,000 after acquiring an additional 196 shares during the last quarter. Legacy Capital Group California Inc. boosted its holdings in Stantec by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,298 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 211 shares during the period. Creative Planning grew its position in Stantec by 6.0% in the 2nd quarter. Creative Planning now owns 10,628 shares of the business services provider’s stock valued at $888,000 after acquiring an additional 605 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Stantec in the second quarter worth $51,000. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Trading Up 0.4 %

Shares of NYSE STN opened at $82.90 on Friday. Stantec Inc. has a 1-year low of $67.54 and a 1-year high of $88.42. The business has a fifty day moving average price of $81.49 and a 200 day moving average price of $82.42. The stock has a market capitalization of $9.46 billion, a P/E ratio of 37.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.39.

Stantec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 0.75%. This is a positive change from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. Stantec’s dividend payout ratio is presently 28.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday. Raymond James cut shares of Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday. Scotiabank began coverage on shares of Stantec in a research report on Friday, October 25th. They issued a “sector outperform” rating for the company. Finally, StockNews.com lowered shares of Stantec from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Stantec has an average rating of “Moderate Buy”.

About Stantec

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.