Addenda Capital Inc. Sells 308 Shares of Stantec Inc. (NYSE:STN)

Addenda Capital Inc. cut its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,207 shares of the business services provider’s stock after selling 308 shares during the period. Addenda Capital Inc.’s holdings in Stantec were worth $8,489,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Canoe Financial LP increased its holdings in shares of Stantec by 1,011.1% in the 4th quarter. Canoe Financial LP now owns 83,755 shares of the business services provider’s stock worth $6,567,000 after buying an additional 76,217 shares during the last quarter. Toronto Dominion Bank grew its holdings in Stantec by 198.4% during the 3rd quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock valued at $30,405,000 after purchasing an additional 251,407 shares during the last quarter. Compagnie Lombard Odier SCmA grew its holdings in 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 purchasing an additional 6,354 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 purchasing an additional 196 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Stantec by 175.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider’s stock valued at $105,850,000 after purchasing an additional 806,869 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on STN shares. Scotiabank started coverage on shares of Stantec in a report on Friday, October 25th. They set a “sector outperform” rating on the stock. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Finally, Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Stantec presently has an average rating of “Moderate Buy”.

Stantec Price Performance

Stantec stock opened at $77.49 on Tuesday. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 35.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. Stantec Inc. has a 1 year low of $74.98 and a 1 year high of $88.42. The firm has a 50-day moving average of $81.53 and a two-hundred day moving average of $82.25.

Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.80%. This is a boost from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, December 31st. Stantec’s payout ratio is 26.36%.

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.