Intact Investment Management Inc. Invests $1.66 Million in Stantec Inc. (NYSE:STN)

Intact Investment Management Inc. bought a new position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) in the 4th quarter, Holdings Channel reports. The fund bought 21,120 shares of the business services provider’s stock, valued at approximately $1,657,000.

Several other hedge funds have also made changes to their positions in STN. The Manufacturers Life Insurance Company boosted its stake in shares of 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. National Bank of Canada FI lifted its position in Stantec by 54.6% in 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 purchasing an additional 513,269 shares during the period. Toronto Dominion Bank lifted its position in Stantec by 198.4% in the third 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 period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Stantec by 11.7% in 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 purchasing an additional 207,470 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its position in Stantec by 79.1% in 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 purchasing an additional 87,709 shares during the period. Institutional investors and hedge funds own 63.86% of the company’s stock.

Stantec Trading Up 2.3 %

Shares of Stantec stock opened at $82.41 on Friday. Stantec Inc. has a 12-month low of $73.18 and a 12-month high of $90.24. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. The stock has a market cap of $9.40 billion, a PE ratio of 37.46 and a beta of 1.04. The company has a 50-day moving average of $79.09 and a two-hundred day moving average of $81.04.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be issued a $0.1574 dividend. The ex-dividend date is Friday, March 28th. This is a boost from Stantec’s previous quarterly dividend of $0.16. This represents a $0.63 dividend on an annualized basis and a yield of 0.76%. Stantec’s dividend payout ratio (DPR) is 26.61%.

Wall Street Analyst Weigh In

STN has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Raymond James upgraded shares of Stantec from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

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.