Hillsdale Investment Management Inc. Reduces Position in Stantec Inc. (NYSE:STN)

Hillsdale Investment Management Inc. lessened its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,090 shares of the business services provider’s stock after selling 6,400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Stantec were worth $4,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Stantec by 121.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock worth $225,537,000 after acquiring an additional 1,536,475 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Stantec by 11.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider’s stock valued at $155,433,000 after purchasing an additional 207,470 shares during the period. National Bank of Canada FI raised its position in shares of Stantec by 54.6% during the 3rd quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock valued at $116,897,000 after purchasing an additional 513,269 shares during the period. Allianz Asset Management GmbH raised its position 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 during the period. Finally, Geode Capital Management LLC raised its position in shares of Stantec by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider’s stock valued at $42,781,000 after purchasing an additional 46,267 shares during the period. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Stock Down 1.9 %

Shares of STN stock opened at $82.05 on Friday. 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 company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 37.30 and a beta of 1.04. The company’s fifty day moving average price is $79.78 and its 200-day moving average price is $81.04. Stantec Inc. has a one year low of $73.18 and a one year high of $90.24.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be issued a $0.1574 dividend. This is an increase from Stantec’s previous quarterly dividend of $0.16. This represents a $0.63 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, March 28th. Stantec’s payout ratio is currently 26.61%.

Analyst Upgrades and Downgrades

Separately, Raymond James upgraded shares of Stantec from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Stantec presently has a consensus rating of “Buy”.

Stantec 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.