Hillsdale Investment Management Inc. Reduces Stake in Stantec Inc.

Hillsdale Investment Management Inc. has lowered its investment in Stantec Inc. (NYSE:STN - Free Report) (TSE:STN) by 9.2% during the fourth quarter, as reported in a recent filing with the Securities and Exchange Commission. After selling 6,400 shares during this period, the firm now holds 63,090 shares of the business services provider's stock, amounting to approximately $4,944,000, representing about 0.06% of Stantec's total shares.

Various other institutional investors have also made adjustments to their stakes in Stantec recently. Advisors Asset Management Inc. increased its holding by 8.8%, acquiring an additional 3,726 shares during the fourth quarter, bringing its total to 46,036 shares valued at $3,612,000. Similarly, Signaturefd LLC enhanced its position by 4.5%, now owning 4,041 shares worth $317,000 after an increase of 175 shares. Additionally, Gitterman Wealth Management LLC raised its holdings by 6.6%, now controlling 5,596 shares valued at $439,000 due to the purchase of 348 new shares. Intact Investment Management Inc. has also entered into Stantec by acquiring a stake valued at approximately $1,657,000. In contrast, LBP AM SA managed to grow its position by 2.9%, increasing its shares to 43,205, worth $3,389,000 after acquiring an additional 1,217 shares. Currently, hedge funds and institutional investors own about 63.86% of the company’s total shares.

Analyst Opinions

On the analytical front, Raymond James recently upgraded Stantec's stock rating from “market perform” to “outperform” as of February 26th. Currently, five analysts have rated Stantec with a “buy” recommendation. Data from MarketBeat.com shows that the average rating for the stock remains a solid “Buy”.

Stock Performance

At the opening of trading on Friday, Stantec's stock was valued at $82.05. Over the past 12 months, the stock has experienced a low of $73.18 and a high of $90.24. The company’s current ratio is 1.42, with a quick ratio also at 1.42. Stantec's debt-to-equity ratio stands at 0.54, while its 50-day and 200-day moving averages are $79.78 and $81.04, respectively. The market capitalization of Stantec is approximately $9.36 billion, with a P/E ratio of 37.30 and a beta of 1.04.

Dividend Announcement

Recently, Stantec announced a quarterly dividend of $0.1574, which is scheduled to be paid on April 15th. This dividend will benefit investors listed on record as of March 28th, with the ex-dividend date set for the same day. The new dividend signifies an annualized amount of $0.63 with a yield of 0.77%, reflecting a modest increase from the previous quarterly dividend of $0.16. Stantec's current dividend payout ratio (DPR) is reported at 26.61%.

Company Overview

Stantec Inc specializes in providing professional services related to infrastructure and facilities for both public and private sectors across Canada, the United States, and other international markets. Their offerings encompass evaluation, planning, and design of infrastructure solutions, as well as sustainable water resources management, environmental services, architecture, engineering, and energy solutions.

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