Jennison Associates LLC Makes New $4.06 Million Investment in Stantec Inc. (NYSE:STN)

Jennison Associates LLC purchased a new position in Stantec Inc. (NYSE:STN - Free Report) TSE: STN in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,524 shares of the business services provider's stock, valued at approximately $4,055,000.

A number of other large investors have also recently made changes to their positions in the stock. Calamos Wealth Management LLC grew its stake in shares of Stantec by 29.7% in the fourth quarter. Calamos Wealth Management LLC now owns 26,591 shares of the business services provider's stock worth $2,132,000 after acquiring an additional 6,086 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Stantec by 0.8% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 240,142 shares of the business services provider's stock valued at $19,343,000 after buying an additional 1,925 shares during the period. Ritholtz Wealth Management grew its position in Stantec by 7.7% during the fourth quarter. Ritholtz Wealth Management now owns 23,910 shares of the business services provider's stock valued at $1,917,000 after buying an additional 1,702 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Stantec during the fourth quarter valued at approximately $214,000. Finally, First Affirmative Financial Network grew its position in Stantec by 4.2% during the fourth quarter. First Affirmative Financial Network now owns 3,784 shares of the business services provider's stock valued at $303,000 after buying an additional 152 shares during the period. 63.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Atb Cap Markets lowered shares of Stantec from an "outperform" rating to a "sector perform" rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $105.00.

Stantec Stock Performance

NYSE STN traded up $0.34 during trading hours on Friday, hitting $81.84. 133,838 shares of the company's stock traded hands, compared to its average volume of 104,601. The business's fifty day moving average price is $82.74 and its two-hundred day moving average price is $76.97. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $9.34 billion, a P/E ratio of 37.20 and a beta of 1.04. Stantec Inc. has a 52 week low of $56.49 and a 52 week high of $87.53.

Stantec (NYSE:STN - Get Free Report) TSE: STN last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.03). Stantec had a net margin of 5.11% and a return on equity of 16.50%. The firm had revenue of $912.51 million for the quarter, compared to analysts' expectations of $891.12 million. Equities research analysts predict that Stantec Inc. will post 3.13 EPS for the current year.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.1548 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Wednesday, March 27th. This is an increase from Stantec's previous quarterly dividend of $0.14. Stantec's payout ratio is 26.36%.

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.