Bank of New York Mellon Corp Grows Stock Position in Stantec Inc. (NYSE:STN)

Bank of New York Mellon Corp grew its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 146,866 shares of the business services provider’s stock after buying an additional 8,244 shares during the quarter. Bank of New York Mellon Corp owned 0.13% of Stantec worth $11,522,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Union Bancaire Privee UBP SA acquired a new position in Stantec in the fourth quarter valued at approximately $1,635,000. Allianz Asset Management GmbH increased its holdings in shares of Stantec by 5.3% during the 4th quarter. Allianz Asset Management GmbH now owns 981,515 shares of the business services provider’s stock valued at $76,968,000 after purchasing an additional 48,972 shares in the last quarter. Cumberland Partners Ltd lifted its stake in shares of Stantec by 11.7% in the 4th quarter. Cumberland Partners Ltd now owns 125,290 shares of the business services provider’s stock valued at $9,810,000 after purchasing an additional 13,090 shares during the period. CIBC Asset Management Inc boosted its holdings in Stantec by 1.4% during the fourth quarter. CIBC Asset Management Inc now owns 142,781 shares of the business services provider’s stock worth $11,177,000 after buying an additional 2,023 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Stantec by 25.5% during the fourth quarter. Principal Financial Group Inc. now owns 349,580 shares of the business services provider’s stock valued at $27,413,000 after buying an additional 71,100 shares during the period. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Price Performance

Stantec stock opened at $80.42 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42. The company’s fifty day moving average price is $79.05 and its 200 day moving average price is $81.04. The stock has a market capitalization of $9.17 billion, a P/E ratio of 36.56 and a beta of 1.04. Stantec Inc. has a 1 year low of $73.18 and a 1 year high of $90.24.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.1574 per share. The ex-dividend date is Friday, March 28th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 0.78%. This is a boost from Stantec’s previous quarterly dividend of $0.16. Stantec’s payout ratio is currently 26.61%.

Analysts Set New Price Targets

STN has been the subject of a number of analyst reports. Raymond James upgraded shares of Stantec from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 26th. StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “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.