Intech Investment Management LLC Sells 5,839 Shares of Stantec Inc. (NYSE:STN)

Intech Investment Management LLC cut its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 51.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,416 shares of the business services provider’s stock after selling 5,839 shares during the quarter. Intech Investment Management LLC’s holdings in Stantec were worth $436,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in STN. The Manufacturers Life Insurance Company increased its stake in Stantec by 175.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider’s stock valued at $105,850,000 after acquiring an additional 806,869 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Stantec by 86.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock worth $75,897,000 after purchasing an additional 422,538 shares in the last quarter. Bank of Montreal Can increased its position in Stantec by 15.1% during the 2nd quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock worth $265,177,000 after purchasing an additional 415,993 shares in the last quarter. Candriam S.C.A. boosted its position in Stantec by 243.8% in the second quarter. Candriam S.C.A. now owns 204,405 shares of the business services provider’s stock valued at $17,108,000 after buying an additional 144,948 shares in the last quarter. Finally, Cumberland Partners Ltd increased its holdings in shares of Stantec by 1,013.6% during the third quarter. Cumberland Partners Ltd now owns 112,200 shares of the business services provider’s stock worth $9,031,000 after buying an additional 102,125 shares in the last quarter. 63.86% of the stock is currently owned by institutional investors.

Stantec Trading Down 0.3 %

NYSE:STN opened at $86.75 on Tuesday. Stantec Inc. has a one year low of $72.80 and a one year high of $88.42. The company’s 50-day simple moving average is $83.04 and its 200 day simple moving average is $82.66. 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 market capitalization of $9.90 billion, a P/E ratio of 39.43 and a beta of 1.02.

Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.71%. This is a positive change from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, December 31st. Stantec’s dividend payout ratio is 28.18%.

Analyst Ratings Changes

Several analysts recently commented on STN shares. StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Raymond James lowered Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Scotiabank assumed coverage on shares of Stantec in a research note on Friday, October 25th. They issued a “sector outperform” rating for the company. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently 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.