HighTower Advisors LLC Sells 1,067 Shares of Stantec Inc. (NYSE:STN)

HighTower Advisors LLC reduced its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 27.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,839 shares of the business services provider’s stock after selling 1,067 shares during the period. HighTower Advisors LLC’s holdings in Stantec were worth $228,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of STN. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Stantec by 2.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 363,803 shares of the business services provider’s stock valued at $30,450,000 after buying an additional 7,473 shares in the last quarter. Tobam raised its stake in shares of Stantec by 43.4% during the second quarter. Tobam now owns 2,642 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 799 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Stantec by 11.1% in the second quarter. National Bank of Canada FI now owns 940,461 shares of the business services provider’s stock valued at $77,860,000 after purchasing an additional 93,823 shares during the period. Candriam S.C.A. boosted its holdings in shares of Stantec by 243.8% in the second quarter. Candriam S.C.A. now owns 204,405 shares of the business services provider’s stock valued at $17,108,000 after purchasing an additional 144,948 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Stantec by 370.0% in the second quarter. Acadian Asset Management LLC now owns 94,000 shares of the business services provider’s stock worth $7,865,000 after purchasing an additional 74,000 shares in the last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Scotiabank initiated coverage on Stantec in a research report on Friday, October 25th. They set a “sector outperform” rating for the company. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Stantec has an average rating of “Moderate Buy”.

Stantec Trading Up 0.4 %

Shares of NYSE:STN opened at $79.58 on Wednesday. The company has a market capitalization of $9.08 billion, a PE ratio of 36.17 and a beta of 0.99. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. Stantec Inc. has a 12-month low of $76.03 and a 12-month high of $88.42. The business’s fifty day simple moving average is $83.34 and its 200-day simple moving average is $82.91.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.78%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stantec’s previous quarterly dividend of $0.15. Stantec’s payout ratio is 28.18%.

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.