Wellington Management Group LLP Increases Stock Position in Stantec Inc. (NYSE:STN)

Wellington Management Group LLP grew its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 407,626 shares of the business services provider’s stock after purchasing an additional 45,900 shares during the quarter. Wellington Management Group LLP owned approximately 0.36% of Stantec worth $31,965,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Stantec during the 4th quarter worth approximately $110,221,000. Toronto Dominion Bank grew its position in shares of Stantec by 198.4% during the third quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock worth $30,405,000 after acquiring an additional 251,407 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Stantec by 11.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,983,637 shares of the business services provider’s stock worth $155,433,000 after acquiring an additional 207,470 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Stantec by 90.5% in the 4th quarter. Clearbridge Investments LLC now owns 373,983 shares of the business services provider’s stock valued at $29,339,000 after acquiring an additional 177,692 shares during the period. Finally, Canoe Financial LP raised its position in Stantec by 1,011.1% in the 4th quarter. Canoe Financial LP now owns 83,755 shares of the business services provider’s stock valued at $6,567,000 after purchasing an additional 76,217 shares during the last quarter. Institutional investors and hedge funds own 63.86% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James upgraded shares of Stantec from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

Stantec Trading Down 5.2 %

NYSE:STN opened at $80.31 on Monday. 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’s 50 day simple moving average is $80.78 and its 200-day simple moving average is $81.40. The firm has a market cap of $9.16 billion, a P/E ratio of 36.51 and a beta of 1.00.

Stantec Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be paid a $0.1574 dividend. This is a boost from Stantec’s previous quarterly dividend of $0.16. This represents a $0.63 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, March 28th. Stantec’s payout ratio is currently 26.61%.

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.