North American Construction Group Ltd. (NYSE:NOA) Stake Lowered by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its stake in North American Construction Group by 20.7%, now holding 838,256 shares worth approximately $13.2 million.
• Recent analyst reports have led to mixed ratings for the stock, with Canaccord Genuity lowering it from "buy" to "hold", while Wall Street Zen upgraded it from "sell" to "hold".
• The company also declared a quarterly dividend increase to $0.086 per share, representing an annualized dividend of $0.34 and a yield of 2.3%.

Alberta Investment Management Corp reduced its position in North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 20.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 838,256 shares of the oil and gas company's stock after selling 218,998 shares during the period. Alberta Investment Management Corp owned about 2.73% of North American Construction Group worth $13,215,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of North American Construction Group by 284.3% in the fourth quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company's stock valued at $171,000 after purchasing an additional 5,884 shares during the period. Tranquility Partners LLC boosted its holdings in North American Construction Group by 4.4% in the first quarter. Tranquility Partners LLC now owns 15,584 shares of the oil and gas company's stock valued at $246,000 after acquiring an additional 658 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of North American Construction Group during the fourth quarter worth about $295,000. JB Capital Partners LP acquired a new position in shares of North American Construction Group during the fourth quarter worth about $432,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of North American Construction Group by 4.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,850 shares of the oil and gas company's stock worth $451,000 after purchasing an additional 974 shares in the last quarter. 74.99% of the stock is owned by hedge funds and other institutional investors.

North American Construction Group Stock Up 0.6%

Shares of NYSE NOA traded up $0.08 during midday trading on Tuesday, reaching $14.66. 72,949 shares of the company's stock were exchanged, compared to its average volume of 74,864. North American Construction Group Ltd. has a 52-week low of $13.19 and a 52-week high of $22.08. The stock has a market capitalization of $442.91 million, a PE ratio of 14.55 and a beta of 1.26. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.74 and a current ratio of 0.92. The business's fifty day moving average price is $16.53 and its two-hundred day moving average price is $16.77.

North American Construction Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Wednesday, June 4th were issued a $0.086 dividend. This is an increase from North American Construction Group's previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, June 4th. North American Construction Group's dividend payout ratio is presently 34.65%.

Wall Street Analysts Forecast Growth

NOA has been the topic of a number of recent research reports. Canaccord Genuity Group cut North American Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 11th. Wall Street Zen upgraded North American Construction Group from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Raymond James Financial lowered North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

North American Construction Group Company Profile

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment - Canada, Heavy Equipment - Australia, and Other segments.