Renaissance Technologies LLC Sells 34,100 Shares of Stantec Inc. (NYSE:STN)

Renaissance Technologies LLC reduced its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 18.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 148,800 shares of the business services provider’s stock after selling 34,100 shares during the period. Renaissance Technologies LLC’s holdings in Stantec were worth $11,673,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of STN. JPMorgan Chase & Co. boosted its position in Stantec by 7.3% during the fourth quarter. JPMorgan Chase & Co. now owns 580,736 shares of the business services provider’s stock valued at $45,559,000 after purchasing an additional 39,671 shares in the last quarter. Canoe Financial LP grew its position 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. Wellington Management Group LLP raised its stake in shares of Stantec by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 407,626 shares of the business services provider’s stock worth $31,965,000 after acquiring an additional 45,900 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Stantec by 8.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,739 shares of the business services provider’s stock valued at $293,000 after acquiring an additional 300 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Stantec by 9.7% in the third quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider’s stock worth $42,781,000 after purchasing an additional 46,267 shares during the last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded Stantec from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Stantec Stock Performance

STN opened at $86.74 on Wednesday. The company has a market cap of $9.89 billion, a P/E ratio of 39.43 and a beta of 1.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average price is $81.83 and its 200-day moving average price is $81.56. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $90.24.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th were issued a $0.1574 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 0.73%. This is a boost from Stantec’s previous quarterly dividend of $0.16. Stantec’s dividend payout ratio (DPR) is currently 26.61%.

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.