HighTower Advisors LLC Sells 1,067 Shares of Stantec Inc. (NYSE:STN)

HighTower Advisors LLC cut its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 27.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,839 shares of the business services provider’s stock after selling 1,067 shares during the quarter. HighTower Advisors LLC’s holdings in Stantec were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of STN. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Stantec in the second quarter worth $71,000. Blue Trust Inc. lifted its stake in Stantec by 802.8% in the 3rd quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock worth $81,000 after purchasing an additional 867 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Stantec by 12.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 129 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Stantec by 30.3% during the 3rd quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 493 shares during the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of Stantec during the third quarter valued at about $211,000. 63.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on STN shares. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Scotiabank began coverage on shares of Stantec in a research report on Friday, October 25th. They issued a “sector outperform” rating on the stock. Finally, StockNews.com upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stantec has a consensus rating of “Moderate Buy”.

Stantec Price Performance

NYSE:STN opened at $79.58 on Wednesday. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 36.17 and a beta of 0.99. 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 business has a 50 day simple moving average of $83.34 and a 200-day simple moving average of $82.91. Stantec Inc. has a 1 year low of $76.03 and a 1 year high of $88.42.

Stantec Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 0.78%. This is a positive change from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. Stantec’s payout ratio is presently 28.18%.

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.