Connor Clark & Lunn Investment Management Ltd. Purchases 12,600 Shares of Stantec Inc. (STN)
Connor Clark & Lunn Investment Management Ltd. boosted its position in Stantec Inc. (NYSE:STN) (TSE:STN) by 27.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,000 shares of the business services provider’s stock after buying an additional 12,600 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Stantec worth $1,292,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in STN. Tower Research Capital LLC TRC raised its position in Stantec by 544.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the business services provider’s stock valued at $124,000 after buying an additional 4,203 shares during the last quarter. Citadel Advisors LLC bought a new position in Stantec in the third quarter valued at approximately $210,000. Bank of New York Mellon Corp grew its stake in Stantec by 65.1% in the third quarter. Bank of New York Mellon Corp now owns 16,023 shares of the business services provider’s stock valued at $398,000 after purchasing an additional 6,317 shares in the last quarter. Bank of America Corp DE grew its stake in Stantec by 42.6% in the second quarter. Bank of America Corp DE now owns 19,366 shares of the business services provider’s stock valued at $497,000 after purchasing an additional 5,790 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Stantec in the third quarter valued at approximately $732,000. 66.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE STN opened at $23.51 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.46. Stantec Inc. has a 12 month low of $21.44 and a 12 month high of $26.74. The company has a market cap of $2.63 billion, a PE ratio of 16.79 and a beta of 1.19.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.11 per share. This is an increase from Stantec’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, March 28th. Stantec’s payout ratio is currently 29.29%.
STN has been the subject of a number of analyst reports. BMO Capital Markets restated a “buy” rating on shares of Stantec in a research note on Thursday, February 28th. Royal Bank of Canada restated an “average” rating and issued a $36.00 price target on shares of Stantec in a research note on Friday, March 1st. TheStreet downgraded Stantec from a “b-” rating to a “c” rating in a research note on Monday, November 19th. Raymond James upgraded Stantec to a “buy” rating and set a $35.50 price target for the company in a research note on Thursday, December 13th. Finally, Zacks Investment Research upgraded Stantec from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Stantec presently has a consensus rating of “Buy” and a consensus target price of $33.50.
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Stantec Inc provides professional consulting services in the area of infrastructure and facilities for clients in the public and private sectors in Canada, the United States, and internationally. It operates through four segments: Consulting Services Canada, Consulting Services United States, Consulting Services Global, and Construction Services.
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