Advisors Asset Management Inc. Purchases 3,726 Shares of Stantec Inc. (NYSE:STN)

Advisors Asset Management Inc. boosted its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,036 shares of the business services provider’s stock after purchasing an additional 3,726 shares during the period. Advisors Asset Management Inc.’s holdings in Stantec were worth $3,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in STN. The Manufacturers Life Insurance Company lifted its stake in Stantec by 121.3% in the third quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock worth $225,537,000 after purchasing an additional 1,536,475 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Stantec by 54.6% during the third quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock valued at $116,897,000 after acquiring an additional 513,269 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Stantec by 198.4% during the third quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock valued at $30,405,000 after acquiring an additional 251,407 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Stantec by 11.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider’s stock valued at $155,433,000 after acquiring an additional 207,470 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. raised its stake in shares of Stantec by 79.1% during the third quarter. Northwest & Ethical Investments L.P. now owns 198,539 shares of the business services provider’s stock valued at $15,966,000 after acquiring an additional 87,709 shares in the last quarter. Institutional investors own 63.86% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James raised shares of Stantec from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Stantec presently has an average rating of “Buy”.

Stantec Stock Performance

Shares of STN stock opened at $83.61 on Friday. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 38.00 and a beta of 1.04. The company’s 50 day moving average is $79.66 and its 200 day moving average is $81.04. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $90.24.

Stantec Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be issued a dividend of $0.1574 per share. This represents a $0.63 annualized dividend and a yield of 0.75%. This is a positive change from Stantec’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, March 28th. Stantec’s dividend payout ratio (DPR) is presently 26.61%.

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.