Connor Clark & Lunn Investment Management Ltd. Buys 207,470 Shares of Stantec Inc. (NYSE:STN)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 11.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,983,637 shares of the business services provider’s stock after purchasing an additional 207,470 shares during the quarter. Stantec accounts for about 0.7% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 28th biggest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Stantec were worth $155,433,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted 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 worth $140,000 after purchasing an additional 764 shares during the period. US Bancorp DE grew its position in shares of Stantec by 30.3% in the 3rd quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock worth $171,000 after buying an additional 493 shares during the last quarter. FORA Capital LLC bought a new stake in Stantec in the third quarter valued at $213,000. Atria Investments Inc raised its holdings in Stantec by 4.3% in the 4th quarter. Atria Investments Inc now owns 3,650 shares of the business services provider’s stock worth $286,000 after purchasing an additional 151 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position 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 purchasing an additional 300 shares during the period. Institutional investors own 63.86% of the company’s stock.

Stantec Stock Performance

Stantec stock opened at $80.83 on Wednesday. Stantec Inc. has a twelve month low of $73.18 and a twelve month high of $90.24. The company has a market capitalization of $9.22 billion, a P/E ratio of 36.74 and a beta of 1.04. The stock’s 50 day moving average is $78.93 and its 200 day moving average is $81.06. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54.

Stantec Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be issued a $0.1574 dividend. This is a positive change from Stantec’s previous quarterly dividend of $0.16. This represents a $0.63 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, March 28th. Stantec’s payout ratio is presently 26.61%.

Analysts Set New Price Targets

STN has been the topic of a number of research analyst reports. StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Raymond James upgraded shares of Stantec from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average 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.