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

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 11.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,983,637 shares of the business services provider’s stock after purchasing an additional 207,470 shares during the period. Stantec accounts for approximately 0.7% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 28th largest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.74% of Stantec worth $155,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of STN. Canoe Financial LP boosted 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 worth $6,567,000 after acquiring an additional 76,217 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Stantec by 198.4% during the third quarter. Toronto Dominion Bank now owns 378,119 shares of the business services provider’s stock worth $30,405,000 after purchasing an additional 251,407 shares during the period. Quantbot Technologies LP raised its stake in Stantec by 98.1% in the third quarter. Quantbot Technologies LP now owns 19,818 shares of the business services provider’s stock valued at $1,594,000 after purchasing an additional 9,814 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Stantec during the 3rd quarter worth approximately $479,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Stantec by 121.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock valued at $225,537,000 after purchasing an additional 1,536,475 shares during the last quarter. Institutional investors and hedge funds own 63.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Raymond James raised shares of Stantec from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Stantec Stock Performance

Shares of STN stock opened at $80.83 on Wednesday. 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 Inc. has a 52 week low of $73.18 and a 52 week high of $90.24. The firm has a 50 day moving average of $78.93 and a 200-day moving average of $81.06. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 36.74 and a beta of 1.04.

Stantec Increases Dividend

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

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.