Arrowstreet Capital Limited Partnership Grows Stock Holdings in North American Construction Group Ltd. $NOA

Key Points

• Arrowstreet Capital increased its North American Construction Group stake by 65.1% in the first quarter, adding 158,731 shares to own 402,413 shares worth approximately $5.43 million, or 1.42% of the company.
• Institutional ownership remains high at 74.99%, with other investors including Bank of America and Geode Capital also increasing their positions.
• NOA recently paid a quarterly dividend of $0.12 per share, equivalent to a 3.5% annualized yield. Analysts’ consensus rating is “Hold,” with a consensus price target of $25.75.

Arrowstreet Capital Limited Partnership increased its position in shares of North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 65.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,413 shares of the oil and gas company's stock after purchasing an additional 158,731 shares during the period. Arrowstreet Capital Limited Partnership owned 1.42% of North American Construction Group worth $5,430,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in shares of North American Construction Group during the 1st quarter worth about $476,000. Geode Capital Management LLC raised its position in shares of North American Construction Group by 51.4% during the 2nd quarter. Geode Capital Management LLC now owns 21,511 shares of the oil and gas company's stock worth $344,000 after acquiring an additional 7,300 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of North American Construction Group during the 2nd quarter worth about $122,000. Bank of America Corp DE raised its position in shares of North American Construction Group by 80.7% during the 2nd quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company's stock worth $5,214,000 after acquiring an additional 145,745 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its stake in North American Construction Group by 3.0% during the second quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company's stock worth $1,139,000 after purchasing an additional 2,040 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company's stock.

North American Construction Group Trading Up 0.0%

NYSE NOA opened at $13.61 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $379.31 million, a P/E ratio of 17.22 and a beta of 1.06. North American Construction Group Ltd. has a 52-week low of $12.07 and a 52-week high of $17.26. The firm has a 50-day moving average price of $13.60 and a 200 day moving average price of $14.48.

North American Construction Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. North American Construction Group's dividend payout ratio is 44.30%.

Analyst Ratings Changes

NOA has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of North American Construction Group in a report on Thursday, July 9th. ATB Cormark Capital Markets downgraded shares of North American Construction Group from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 28th. BMO Capital Markets restated a "market perform" rating on shares of North American Construction Group in a research note on Thursday, May 14th. Zacks Research cut shares of North American Construction Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 9th. Finally, Roth Capital reiterated a "buy" rating and set a $27.50 target price on shares of North American Construction Group in a research note on Friday, May 15th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, North American Construction Group has an average rating of "Hold" and a consensus price target of $25.75.

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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