The Manufacturers Life Insurance Company Increases Holdings in Stantec Inc. (NYSE:STN)

The Manufacturers Life Insurance Company boosted its holdings in Stantec Inc. (NYSE:STN - Free Report) TSE: STN by 19.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,344,994 shares of the business services provider's stock after buying an additional 542,305 shares during the quarter. The Manufacturers Life Insurance Company owned 2.93% of Stantec worth $262,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of STN. JPMorgan Chase & Co. raised its holdings in shares of Stantec by 7.3% during the fourth quarter. JPMorgan Chase & Co. now owns 580,736 shares of the business services provider's stock valued at $45,559,000 after purchasing an additional 39,671 shares during the last quarter. Canoe Financial LP raised its stake in Stantec by 1,011.1% during the 4th quarter. Canoe Financial LP now owns 83,755 shares of the business services provider's stock valued at $6,567,000 after buying an additional 76,217 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Stantec by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 407,626 shares of the business services provider's stock valued at $31,965,000 after buying an additional 45,900 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Stantec by 8.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,739 shares of the business services provider's stock worth $293,000 after buying an additional 300 shares during the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Stantec in the fourth quarter worth $531,000. Institutional investors own 63.86% of the company's stock.

Stantec Stock Performance

Shares of STN stock traded up $1.74 during mid-day trading on Friday, reaching $91.67. 178,240 shares of the company's stock traded hands, compared to its average volume of 137,932. Stantec Inc. has a 12 month low of $73.18 and a 12 month high of $91.90. The firm has a 50 day moving average price of $84.41 and a two-hundred day moving average price of $82.02. The firm has a market capitalization of $10.46 billion, a PE ratio of 41.67 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th were given a $0.1574 dividend. This is a boost from Stantec's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.63 dividend on an annualized basis and a yield of 0.69%. Stantec's dividend payout ratio is presently 26.61%.

Analyst Ratings Changes

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, Stantec currently has a consensus rating of "Buy".

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.