The Manufacturers Life Insurance Company Purchases 1,536,475 Shares of Stantec Inc. (NYSE:STN)

The Manufacturers Life Insurance Company raised its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 121.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,802,689 shares of the business services provider’s stock after purchasing an additional 1,536,475 shares during the quarter. The Manufacturers Life Insurance Company owned 2.46% of Stantec worth $225,537,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Compagnie Lombard Odier SCmA lifted its position in shares of Stantec by 81.8% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 14,125 shares of the business services provider’s stock valued at $1,137,000 after buying an additional 6,354 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Stantec by 5.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock valued at $324,000 after buying an additional 196 shares in the last quarter. Candriam S.C.A. lifted its position in shares of Stantec by 243.8% during the 2nd 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. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Stantec by 2.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider’s stock valued at $142,817,000 after buying an additional 48,009 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in shares of Stantec by 145.3% during the 2nd quarter. Forsta AP Fonden now owns 36,800 shares of the business services provider’s stock valued at $3,080,000 after buying an additional 21,800 shares in the last quarter. 63.86% of the stock is currently owned by institutional investors.

Stantec Stock Up 1.1 %

NYSE STN opened at $86.92 on Tuesday. The stock’s 50 day moving average is $82.26 and its 200 day moving average is $82.46. 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 Inc. has a 12 month low of $69.65 and a 12 month high of $88.42. The stock has a market cap of $9.91 billion, a PE ratio of 39.51 and a beta of 1.02.

Stantec Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 0.71%. Stantec’s payout ratio is currently 28.18%.

Analyst Ratings Changes

A number of research firms have recently weighed in on STN. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Scotiabank began coverage on Stantec in a report on Friday, October 25th. They issued a “sector outperform” rating on the stock. 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock 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.