Neuberger Berman Group LLC Sells 5,378 Shares of Stantec Inc. (NYSE:STN)

Neuberger Berman Group LLC reduced its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,283 shares of the business services provider's stock after selling 5,378 shares during the quarter. Neuberger Berman Group LLC's holdings in Stantec were worth $1,434,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Stantec by 78.4% during the fourth quarter. Blue Trust Inc. now owns 1,739 shares of the business services provider's stock valued at $140,000 after buying an additional 764 shares during the last quarter. US Bancorp DE lifted its position in Stantec by 11.2% in the 4th quarter. US Bancorp DE now owns 2,359 shares of the business services provider's stock valued at $185,000 after acquiring an additional 237 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Stantec during the 4th quarter valued at about $205,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Stantec during the 4th quarter worth approximately $212,000. Finally, Sava Infond d.o.o. purchased a new stake in shares of Stantec in the fourth quarter worth approximately $275,000. 63.86% of the stock is currently owned by institutional investors.

Stantec Stock Up 0.7 %

Shares of STN traded up $0.64 during trading hours on Thursday, reaching $87.43. 43,802 shares of the stock traded hands, compared to its average volume of 136,202. Stantec Inc. has a 52 week low of $73.18 and a 52 week 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 has a fifty day simple moving average of $82.03 and a 200 day simple moving average of $81.59. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 39.74 and a beta of 1.00.

Stantec Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 28th were given a dividend of $0.1574 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 0.72%. This is an increase from Stantec's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 28th. Stantec's dividend payout ratio (DPR) is presently 26.61%.

Wall Street Analyst Weigh In

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

About Stantec

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.