CIBC Asset Management Inc Raises Position in Stantec Inc. (NYSE:STN)

CIBC Asset Management Inc raised its holdings in shares of Stantec Inc. (NYSE:STN) (TSE:STN) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,781 shares of the business services provider’s stock after acquiring an additional 2,023 shares during the quarter. CIBC Asset Management Inc owned approximately 0.13% of Stantec worth $11,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Stantec by 802.8% during the 3rd quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock worth $81,000 after acquiring an additional 867 shares during the last quarter. US Bancorp DE boosted its stake in shares of Stantec by 30.3% during the 3rd quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock worth $171,000 after acquiring an additional 493 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Stantec during the 3rd quarter worth $211,000. FORA Capital LLC purchased a new position in shares of Stantec during the 3rd quarter worth $213,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Stantec by 5.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock worth $324,000 after acquiring an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Stock Performance

Shares of NYSE STN opened at $77.09 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $8.79 billion, a P/E ratio of 35.04 and a beta of 1.01. The firm’s fifty day moving average is $78.66 and its two-hundred day moving average is $81.14. Stantec Inc. has a 52-week low of $73.18 and a 52-week high of $88.42.

Analysts Set New Price Targets

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

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.