Perbak Capital Partners LLP Invests $1.47 Million in Stantec Inc. (NYSE:STN)

Perbak Capital Partners LLP acquired a new stake in Stantec Inc. (NYSE:STN - Free Report) TSE: STN during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,784 shares of the business services provider's stock, valued at approximately $1,473,000.

A number of other hedge funds have also recently made changes to their positions in STN. Vanguard Group Inc. boosted its holdings in Stantec by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 4,575,078 shares of the business services provider's stock worth $358,951,000 after purchasing an additional 74,976 shares during the last quarter. Bank of Montreal Can increased its position in shares of Stantec by 9.5% during the fourth quarter. Bank of Montreal Can now owns 3,496,408 shares of the business services provider's stock valued at $273,970,000 after acquiring an additional 302,979 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Stantec by 19.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,344,994 shares of the business services provider's stock valued at $262,791,000 after purchasing an additional 542,305 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Stantec by 11.7% during the 4th 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 purchasing an additional 207,470 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Stantec by 0.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,774,759 shares of the business services provider's stock worth $139,230,000 after buying an additional 14,332 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Raymond James raised shares of Stantec from a "market perform" rating to an "outperform" rating in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy".

Stantec Stock Performance

Shares of STN stock traded up $1.74 during trading on Friday, reaching $91.67. 178,240 shares of the company's stock traded hands, compared to its average volume of 138,107. Stantec Inc. has a 1 year low of $73.18 and a 1 year high of $91.90. The firm's 50-day moving average is $84.41 and its 200 day moving average is $82.02. 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 company has a market capitalization of $10.46 billion, a P/E ratio of 41.67 and a beta of 0.98.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th were paid a $0.1574 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.63 annualized dividend and a yield of 0.69%. This is an increase from Stantec's previous quarterly dividend of $0.16. Stantec's dividend payout ratio (DPR) 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.