Hillsdale Investment Management Inc. Cuts Stock Holdings in Stantec Inc. (NYSE:STN)

Hillsdale Investment Management Inc. decreased its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,090 shares of the business services provider’s stock after selling 6,400 shares during the quarter. Hillsdale Investment Management Inc. owned 0.06% of Stantec worth $4,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in shares of Stantec by 8.8% during the fourth quarter. Advisors Asset Management Inc. now owns 46,036 shares of the business services provider’s stock valued at $3,612,000 after buying an additional 3,726 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Stantec by 4.5% during the fourth quarter. Signaturefd LLC now owns 4,041 shares of the business services provider’s stock valued at $317,000 after buying an additional 175 shares during the last quarter. Gitterman Wealth Management LLC grew its holdings in shares of Stantec by 6.6% during the fourth quarter. Gitterman Wealth Management LLC now owns 5,596 shares of the business services provider’s stock valued at $439,000 after buying an additional 348 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in shares of Stantec during the fourth quarter valued at approximately $1,657,000. Finally, LBP AM SA grew its holdings in shares of Stantec by 2.9% during the fourth quarter. LBP AM SA now owns 43,205 shares of the business services provider’s stock valued at $3,389,000 after buying an additional 1,217 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 shares of Stantec from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Stantec Trading Down 1.9 %

Shares of STN stock opened at $82.05 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 firm’s 50 day moving average is $79.78 and its 200 day moving average is $81.04. The stock has a market capitalization of $9.36 billion, a P/E ratio of 37.30 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. Investors of record on Friday, March 28th will be issued a $0.1574 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.63 annualized dividend and a yield of 0.77%. 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.