Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in Stantec Inc. (NYSE:STN)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 4.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 347,394 shares of the business services provider’s stock after selling 16,409 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stantec were worth $27,967,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in STN. The Manufacturers Life Insurance Company grew its holdings in shares of Stantec by 121.3% in 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 period. DekaBank Deutsche Girozentrale raised its holdings in Stantec by 86.0% during the second 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 during the last quarter. Bank of Montreal Can boosted its position in Stantec by 15.1% during the second 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. grew its holdings 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 purchasing an additional 144,948 shares during the last quarter. Finally, Cumberland Partners Ltd increased its position in shares of Stantec by 1,013.6% in the third quarter. Cumberland Partners Ltd now owns 112,200 shares of the business services provider’s stock valued at $9,031,000 after buying an additional 102,125 shares in the last quarter. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Price Performance

Stantec stock opened at $87.03 on Friday. The stock has a market capitalization of $9.93 billion, a P/E ratio of 39.56 and a beta of 1.02. Stantec Inc. has a 12-month low of $70.95 and a 12-month high of $88.42. 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’s 50-day moving average is $82.77 and its two-hundred day moving average is $82.57.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a yield of 0.71%. This is a positive change from Stantec’s previous quarterly dividend of $0.15. Stantec’s dividend payout ratio (DPR) is 28.18%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on STN shares. StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Scotiabank initiated coverage on shares of Stantec in a research report on Friday, October 25th. They issued a “sector outperform” rating on the stock. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Raymond James cut Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Stantec has a consensus 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.