Metis Global Partners LLC Trims Stake in Stantec Inc. (NYSE:STN)

Metis Global Partners LLC lessened its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 12.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,791 shares of the business services provider’s stock after selling 1,219 shares during the period. Metis Global Partners LLC’s holdings in Stantec were worth $707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Triad Wealth Partners LLC acquired a new position in Stantec in the second quarter valued at about $51,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Stantec in the 2nd quarter worth approximately $71,000. Blue Trust Inc. lifted its holdings in shares of Stantec by 802.8% in the 3rd quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock worth $81,000 after acquiring an additional 867 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Stantec by 45.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock worth $83,000 after purchasing an additional 326 shares during the period. Finally, UniSuper Management Pty Ltd increased its holdings in Stantec by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 800 shares during the last quarter. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Stantec Price Performance

Shares of NYSE STN opened at $82.31 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.39. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 37.41 and a beta of 1.02. The stock’s 50-day moving average is $81.58 and its two-hundred day moving average is $82.46. Stantec Inc. has a 1-year low of $67.54 and a 1-year high of $88.42.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 0.75%. This is a positive change from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. Stantec’s dividend payout ratio is presently 28.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Raymond James lowered Stantec from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 8th. StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a report on Saturday. Scotiabank assumed coverage on shares of Stantec in a research note on Friday, October 25th. They set a “sector outperform” rating on the stock. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.