Korea Investment CORP Has $9.53 Million Holdings in Stantec Inc. (NYSE:STN)

Korea Investment CORP decreased its holdings in Stantec Inc. (NYSE:STN) (TSE:STN) by 0.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 121,545 shares of the business services provider’s stock after selling 800 shares during the period. Korea Investment CORP’s holdings in Stantec were worth $9,531,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. National Bank of Canada FI grew its stake in Stantec by 54.6% in the third quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock valued at $116,897,000 after purchasing an additional 513,269 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Stantec by 198.4% in the 3rd quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock valued at $30,405,000 after buying an additional 251,407 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Stantec by 11.7% in 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 buying an additional 207,470 shares during the last quarter. Canoe Financial LP raised its position in Stantec by 1,011.1% during the fourth quarter. Canoe Financial LP now owns 83,755 shares of the business services provider’s stock valued at $6,567,000 after acquiring an additional 76,217 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Stantec by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 4,575,078 shares of the business services provider’s stock valued at $358,951,000 after acquiring an additional 74,976 shares during the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Stantec Price Performance

Shares of NYSE:STN opened at $82.95 on Tuesday. 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 stock has a market capitalization of $9.46 billion, a P/E ratio of 37.70 and a beta of 1.04. The business has a 50-day moving average of $80.51 and a two-hundred day moving average of $81.27. Stantec Inc. has a fifty-two week low of $73.18 and a fifty-two week high of $90.24.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be given a dividend of $0.1574 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.63 dividend on an annualized basis and a yield of 0.76%. This is a boost from Stantec’s previous quarterly dividend of $0.16. Stantec’s dividend payout ratio is presently 26.61%.

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.