Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of North American Construction Group Ltd. (NYSE:NOA – Free Report) (TSE:NOA) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 604,396 shares of the oil and gas company’s stock, valued at approximately $8,029,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of NOA. Intact Investment Management Inc. lifted its stake in North American Construction Group by 368.0% in the fourth quarter. Intact Investment Management Inc. now owns 117,000 shares of the oil and gas company’s stock valued at $1,684,000 after buying an additional 92,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of North American Construction Group by 65.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company’s stock valued at $5,430,000 after acquiring an additional 158,731 shares during the period. Orchard Capital Management LLC purchased a new position in shares of North American Construction Group during the second quarter worth approximately $3,013,000. Bastion Asset Management Inc. purchased a new position in shares of North American Construction Group during the fourth quarter worth approximately $8,475,000. Finally, CIBC Asset Management Inc increased its holdings in shares of North American Construction Group by 22.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company’s stock valued at $20,812,000 after acquiring an additional 262,673 shares during the period. 74.99% of the stock is owned by hedge funds and other institutional investors.
North American Construction Group Price Performance
North American Construction Group stock opened at $13.33 on Thursday. North American Construction Group Ltd. has a 12 month low of $12.07 and a 12 month high of $17.26. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.07 and a quick ratio of 0.90. The business has a 50 day simple moving average of $13.67 and a 200-day simple moving average of $14.32. The stock has a market capitalization of $371.64 million, a PE ratio of 16.87 and a beta of 1.06.
North American Construction Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, August 28th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, August 28th. North American Construction Group’s dividend payout ratio (DPR) is 44.30%.
Analysts Set New Price Targets
NOA has been the subject of several research reports. BMO Capital Markets reiterated a “market perform” rating on shares of North American Construction Group in a research report on Thursday, August 13th. Zacks Research upgraded shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Roth Capital reaffirmed a “buy” rating and issued a $27.50 target price on shares of North American Construction Group in a report on Friday, May 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of North American Construction Group in a research note on Tuesday, June 9th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of North American Construction Group in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.75.
View Our Latest Analysis on NOA
North American Construction Group Profile
North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.
In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.
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