Zurcher Kantonalbank Zurich Cantonalbank Sells 17,501 Shares of Stantec Inc. (NYSE:STN)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 5.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 329,893 shares of the business services provider’s stock after selling 17,501 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stantec were worth $25,869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE increased its position in shares of Stantec by 30.3% during the 3rd quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock worth $171,000 after purchasing an additional 493 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Stantec by 1.9% during the third quarter. Principal Financial Group Inc. now owns 278,480 shares of the business services provider’s stock worth $22,419,000 after buying an additional 5,150 shares during the last quarter. Cumberland Partners Ltd increased its holdings in Stantec by 1,013.6% during the third quarter. Cumberland Partners Ltd now owns 112,200 shares of the business services provider’s stock worth $9,031,000 after buying an additional 102,125 shares during the last quarter. Swiss National Bank raised its position in Stantec by 0.8% during the third quarter. Swiss National Bank now owns 344,970 shares of the business services provider’s stock worth $27,786,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Caprock Group LLC lifted its stake in Stantec by 5.6% in the third quarter. Caprock Group LLC now owns 11,091 shares of the business services provider’s stock valued at $894,000 after acquiring an additional 585 shares during the last quarter. Institutional investors own 63.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James upgraded shares of Stantec from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 26th. StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Stantec has a consensus rating of “Buy”.

Stantec Trading Down 3.4 %

Shares of Stantec stock opened at $80.83 on Wednesday. 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 business has a fifty day simple moving average of $78.93 and a two-hundred day simple moving average of $81.06. Stantec Inc. has a 1 year low of $73.18 and a 1 year high of $90.24. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 36.74 and a beta of 1.04.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.1574 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Stantec’s previous quarterly dividend of $0.16. Stantec’s dividend payout ratio (DPR) is currently 26.61%.

About Stantec

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.