Principal Financial Group Inc. Increases Stake in Stantec Inc. (NYSE:STN)

Principal Financial Group Inc. lifted its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 25.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 349,580 shares of the business services provider’s stock after acquiring an additional 71,100 shares during the period. Principal Financial Group Inc.’s holdings in Stantec were worth $27,413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in shares of Stantec by 121.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock valued at $225,537,000 after purchasing an additional 1,536,475 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Stantec by 2.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider’s stock worth $142,817,000 after buying an additional 48,009 shares during the last quarter. National Bank of Canada FI raised its position in Stantec by 54.6% during the 3rd quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock worth $116,897,000 after buying an additional 513,269 shares during the last quarter. Geode Capital Management LLC raised its position in Stantec by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider’s stock worth $42,781,000 after buying an additional 46,267 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Stantec by 198.4% during the 3rd quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock worth $30,405,000 after buying an additional 251,407 shares during the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports 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. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Stantec Price Performance

Shares of NYSE STN opened at $76.12 on Friday. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 34.60 and a beta of 1.01. Stantec Inc. has a 12 month low of $73.18 and a 12 month high of $88.42. The firm’s 50 day simple moving average is $78.13 and its 200-day simple moving average is $80.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42.

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.