Jane Street Group LLC Lowers Stock Position in Stantec Inc. (NYSE:STN)

Jane Street Group LLC lessened its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 77.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,261 shares of the business services provider’s stock after selling 14,240 shares during the quarter. Jane Street Group LLC’s holdings in Stantec were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in shares of Stantec by 370.0% during the 2nd quarter. Acadian Asset Management LLC now owns 94,000 shares of the business services provider’s stock worth $7,865,000 after acquiring an additional 74,000 shares in the last quarter. Caprock Group LLC purchased a new stake in Stantec in the 2nd quarter valued at approximately $879,000. Jupiter Asset Management Ltd. lifted its stake in Stantec by 8.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 340,812 shares of the business services provider’s stock valued at $28,526,000 after buying an additional 27,019 shares in the last quarter. Forsta AP Fonden lifted its stake in Stantec by 145.3% in the 2nd quarter. Forsta AP Fonden now owns 36,800 shares of the business services provider’s stock valued at $3,080,000 after buying an additional 21,800 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its stake in Stantec by 3.3% in the 2nd quarter. Achmea Investment Management B.V. now owns 82,071 shares of the business services provider’s stock valued at $6,869,000 after buying an additional 2,620 shares in the last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Stock Performance

NYSE:STN opened at $76.87 on Thursday. 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 has a 50-day moving average of $82.53 and a two-hundred day moving average of $82.68. The stock has a market cap of $8.77 billion, a P/E ratio of 34.94 and a beta of 1.01. Stantec Inc. has a 1-year low of $76.03 and a 1-year high of $88.42.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.155 per share. This is a boost from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.62 annualized dividend and a dividend yield of 0.81%. Stantec’s dividend payout ratio (DPR) is presently 28.18%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STN. StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Scotiabank assumed coverage on Stantec in a 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 report on Monday, November 11th. Finally, Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company 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.