K.J. Harrison & Partners Inc Cuts Stock Position in North American Construction Group Ltd. $NOA

Key Points

• K.J. Harrison & Partners trimmed its position in North American Construction Group by 64.3% in Q4, selling 166,000 shares and retaining 92,142 shares worth about $1.33 million (≈0.32% of the company).
• Multiple research firms have recently downgraded NOA; the consensus rating is a Hold with an average price target of $24.50 (two Buys, five Holds, one Sell).
• NOA trades around $14.60 with a market cap near $415M and a P/E of 18.24, and it pays a quarterly dividend of $0.12 (annualized $0.48) for a 3.3% yield and a payout ratio of 43.75%.

K.J. Harrison & Partners Inc lessened its position in North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 64.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,142 shares of the oil and gas company's stock after selling 166,000 shares during the quarter. K.J. Harrison & Partners Inc owned approximately 0.32% of North American Construction Group worth $1,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NOA. Aegis Financial Corp purchased a new stake in shares of North American Construction Group in the 3rd quarter valued at $11,965,000. Bank of Montreal Can raised its position in North American Construction Group by 20.5% in the 3rd quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company's stock valued at $38,409,000 after purchasing an additional 459,755 shares in the last quarter. CIBC Asset Management Inc raised its position in North American Construction Group by 50.1% in the 3rd quarter. CIBC Asset Management Inc now owns 1,179,482 shares of the oil and gas company's stock valued at $16,763,000 after purchasing an additional 393,679 shares in the last quarter. NewGen Asset Management Ltd acquired a new stake in North American Construction Group in the 3rd quarter valued at about $4,719,000. Finally, Bank of America Corp DE raised its position in North American Construction Group by 80.7% in the 2nd quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company's stock valued at $5,214,000 after purchasing an additional 145,745 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NOA. Wall Street Zen lowered North American Construction Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. BMO Capital Markets lowered North American Construction Group from an "outperform" rating to a "market perform" rating in a research report on Thursday, March 12th. ATB Cormark Capital Markets lowered North American Construction Group from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Zacks Research lowered North American Construction Group from a "hold" rating to a "strong sell" rating in a research report on Monday, February 2nd. Finally, Roth Mkm began coverage on North American Construction Group in a research report on Thursday, February 5th. They issued a "buy" rating and a $25.00 price target on the stock. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, North American Construction Group currently has an average rating of "Hold" and a consensus price target of $24.50.

North American Construction Group Trading Down 1.5%

NYSE:NOA opened at $14.60 on Thursday. The stock's 50 day moving average price is $14.57 and its 200 day moving average price is $14.68. The company has a market capitalization of $414.79 million, a PE ratio of 18.24 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.88 and a debt-to-equity ratio of 1.64. North American Construction Group Ltd. has a 52-week low of $12.07 and a 52-week high of $18.24.

North American Construction Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Thursday, March 26th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, March 26th. North American Construction Group's dividend payout ratio (DPR) is currently 43.75%.

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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