Zurcher Kantonalbank Zurich Cantonalbank Decreases Position in Stantec Inc. (NYSE:STN)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 4.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 347,394 shares of the business services provider’s stock after selling 16,409 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.30% of Stantec worth $27,967,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. FORA Capital LLC acquired a new position in Stantec in the third quarter valued at $213,000. Bridgewater Associates LP lifted its holdings in shares of Stantec by 24.3% in the 3rd quarter. Bridgewater Associates LP now owns 5,014 shares of the business services provider’s stock valued at $404,000 after purchasing an additional 980 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Stantec by 19.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,052 shares of the business services provider’s stock valued at $889,000 after purchasing an additional 1,800 shares during the period. Quantbot Technologies LP grew its stake in Stantec by 98.1% during the 3rd quarter. Quantbot Technologies LP now owns 19,818 shares of the business services provider’s stock worth $1,594,000 after buying an additional 9,814 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Stantec by 121.3% during 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 buying an additional 1,536,475 shares during the period. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Stock Performance

Shares of STN opened at $87.03 on Friday. The stock has a market capitalization of $9.93 billion, a P/E ratio of 39.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42. Stantec Inc. has a 1 year low of $70.95 and a 1 year high of $88.42. The company’s fifty day moving average is $82.77 and its two-hundred day moving average is $82.57.

Stantec Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Scotiabank assumed coverage on shares of Stantec in a research report on Friday, October 25th. They set a “sector outperform” rating on the stock. StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Raymond James lowered Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.