Renaissance Technologies LLC Sells 34,100 Shares of Stantec Inc. (NYSE:STN)

Renaissance Technologies LLC cut its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 18.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,800 shares of the business services provider’s stock after selling 34,100 shares during the quarter. Renaissance Technologies LLC owned about 0.13% of Stantec worth $11,673,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of STN. Vanguard Group Inc. raised its stake in shares of Stantec by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 4,575,078 shares of the business services provider’s stock valued at $358,951,000 after acquiring an additional 74,976 shares during the period. Bank of Montreal Can grew its holdings in Stantec by 9.5% during the 4th quarter. Bank of Montreal Can now owns 3,496,408 shares of the business services provider’s stock valued at $273,970,000 after purchasing an additional 302,979 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Stantec by 11.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider’s stock worth $155,433,000 after purchasing an additional 207,470 shares during the period. Alliancebernstein L.P. lifted its stake in Stantec by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,774,759 shares of the business services provider’s stock worth $139,230,000 after purchasing an additional 14,332 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Stantec by 1.8% during the fourth quarter. National Bank of Canada FI now owns 1,479,729 shares of the business services provider’s stock valued at $116,207,000 after buying an additional 25,999 shares during the period. 63.86% of the stock is owned by hedge funds and other institutional investors.

Stantec Trading Up 0.9 %

NYSE STN opened at $86.74 on Wednesday. The stock has a market cap of $9.89 billion, a PE ratio of 39.43 and a beta of 1.00. Stantec Inc. has a 12 month low of $73.18 and a 12 month high of $90.24. The company’s 50-day moving average price is $81.83 and its 200-day moving average price is $81.56. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th were paid 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 0.73%. The ex-dividend date was Friday, March 28th. Stantec’s dividend payout ratio is currently 26.61%.

Analysts Set New Price Targets

Separately, Raymond James upgraded Stantec from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average 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.