CIBC Asset Management Inc Buys 2,023 Shares of Stantec Inc. (NYSE:STN)

CIBC Asset Management Inc raised its stake in Stantec Inc. (NYSE:STN) (TSE:STN) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,781 shares of the business services provider’s stock after acquiring an additional 2,023 shares during the period. CIBC Asset Management Inc’s holdings in Stantec were worth $11,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of Stantec by 802.8% in the 3rd quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock worth $81,000 after buying an additional 867 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Stantec by 5.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock worth $324,000 after buying an additional 196 shares during the last quarter. Forsta AP Fonden increased its holdings in shares of Stantec by 14.4% in the 3rd quarter. Forsta AP Fonden now owns 42,100 shares of the business services provider’s stock worth $3,389,000 after buying an additional 5,300 shares during the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of Stantec in the 3rd quarter worth about $211,000. Finally, US Bancorp DE increased its holdings 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. 63.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STN. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Finally, Scotiabank began coverage on shares of Stantec in a report on Friday, October 25th. They set a “sector outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Stantec Stock Performance

Shares of NYSE:STN opened at $77.09 on Wednesday. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 35.04 and a beta of 1.01. Stantec Inc. has a 12 month low of $73.18 and a 12 month high of $88.42. The firm’s 50-day moving average is $78.66 and its 200 day moving average is $81.14. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54.

About Stantec

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.