Pictet Asset Management Holding SA Sells 167,832 Shares of Stantec Inc. (NYSE:STN)

Pictet Asset Management Holding SA cut its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,225,992 shares of the business services provider’s stock after selling 167,832 shares during the period. Pictet Asset Management Holding SA’s holdings in Stantec were worth $409,807,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of Stantec by 78.4% in the 4th quarter. Blue Trust Inc. now owns 1,739 shares of the business services provider’s stock worth $140,000 after buying an additional 764 shares in the last quarter. US Bancorp DE lifted its position in Stantec by 11.2% during the 4th quarter. US Bancorp DE now owns 2,359 shares of the business services provider’s stock worth $185,000 after buying an additional 237 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Stantec in the fourth quarter valued at approximately $212,000. FORA Capital LLC acquired a new position in Stantec during the 3rd quarter worth $213,000. Finally, Sava Infond d.o.o. bought a new position in Stantec in the 4th quarter valued at $275,000. Institutional investors and hedge funds own 63.86% of the company’s stock.

Stantec Trading Down 0.3 %

Shares of NYSE STN opened at $83.50 on Friday. Stantec Inc. has a fifty-two week low of $73.18 and a fifty-two week high of $90.24. The firm has a market capitalization of $9.52 billion, a P/E ratio of 37.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. The company’s 50 day simple moving average is $80.31 and its 200 day simple moving average is $81.15.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be paid a $0.1574 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 0.75%. This is an increase from Stantec’s previous quarterly dividend of $0.16. Stantec’s dividend payout ratio is 26.61%.

Analysts Set New Price Targets

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

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.