Mackenzie Financial Corp Has $1.75 Billion Stock Position in Stantec Inc. (NYSE:STN)

Mackenzie Financial Corp increased its position in shares of Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 166.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,342,818 shares of the business services provider's stock after acquiring an additional 13,958,790 shares during the period. Stantec comprises about 2.3% of Mackenzie Financial Corp's portfolio, making the stock its 6th biggest position. Mackenzie Financial Corp owned about 19.59% of Stantec worth $1,751,093,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Stantec by 7.3% during the fourth quarter. JPMorgan Chase & Co. now owns 580,736 shares of the business services provider's stock worth $45,559,000 after purchasing an additional 39,671 shares during the period. Wellington Management Group LLP boosted its holdings in Stantec by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 407,626 shares of the business services provider's stock worth $31,965,000 after acquiring an additional 45,900 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Stantec by 8.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,739 shares of the business services provider's stock worth $293,000 after acquiring an additional 300 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Stantec by 13.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 263,845 shares of the business services provider's stock worth $20,699,000 after acquiring an additional 30,629 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Stantec by 73.2% in the third quarter. Barclays PLC now owns 31,001 shares of the business services provider's stock worth $2,493,000 after acquiring an additional 13,107 shares in the last quarter. Institutional investors and hedge funds own 63.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating on shares of Stantec in a report on Friday, May 16th. Raymond James upgraded Stantec from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 26th. TD Securities restated a "buy" rating on shares of Stantec in a report on Friday, May 16th. Wall Street Zen upgraded Stantec from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Finally, Scotiabank restated an "outperform" rating on shares of Stantec in a report on Wednesday, May 7th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy".

Stantec Stock Performance

Shares of STN traded down $0.47 on Thursday, reaching $103.49. 69,592 shares of the company's stock traded hands, compared to its average volume of 144,835. 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 has a market cap of $11.80 billion, a PE ratio of 47.09 and a beta of 0.98. The stock's 50 day simple moving average is $89.65 and its two-hundred day simple moving average is $83.92. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $107.04.

Stantec (NYSE:STN - Get Free Report) TSE: STN last issued its quarterly earnings results on Wednesday, May 14th. The business services provider reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.02. Stantec had a return on equity of 16.57% and a net margin of 4.78%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, analysts forecast that Stantec Inc. will post 3.05 earnings per share for the current fiscal year.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.1612 dividend. This is an increase from Stantec's previous quarterly dividend of $0.16. This represents a $0.64 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Monday, June 30th. Stantec's dividend payout ratio (DPR) is currently 25.62%.

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.