NewGen Asset Management Ltd bought a new position in shares of North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 150,000 shares of the oil and gas company's stock, valued at approximately $2,368,000. North American Construction Group accounts for 1.5% of NewGen Asset Management Ltd's portfolio, making the stock its 19th largest position. NewGen Asset Management Ltd owned about 0.49% of North American Construction Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOA. Russell Investments Group Ltd. grew its holdings in shares of North American Construction Group by 284.3% during the 4th quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company's stock worth $171,000 after acquiring an additional 5,884 shares during the period. Stephens Inc. AR purchased a new position in shares of North American Construction Group during the 4th quarter worth approximately $204,000. Proficio Capital Partners LLC purchased a new position in shares of North American Construction Group during the 4th quarter worth approximately $269,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of North American Construction Group in the 4th quarter worth approximately $295,000. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of North American Construction Group by 122.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 14,612 shares of the oil and gas company's stock worth $314,000 after buying an additional 8,029 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company's stock.
Analyst Ratings Changes
Several research firms recently weighed in on NOA. Wall Street Zen upgraded North American Construction Group from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Raymond James downgraded North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd.
Check Out Our Latest Research Report on North American Construction Group
North American Construction Group Stock Down 0.8%
NOA stock traded down $0.14 during midday trading on Thursday, hitting $17.96. The company's stock had a trading volume of 50,281 shares, compared to its average volume of 70,631. The company has a market cap of $546.72 million, a PE ratio of 12.47 and a beta of 1.28. North American Construction Group Ltd. has a 12 month low of $13.19 and a 12 month high of $22.08. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 1.85. The firm's 50-day moving average is $16.05 and its 200-day moving average is $18.03.
North American Construction Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.086 per share. This represents a $0.34 annualized dividend and a dividend yield of 1.91%. This is a boost from North American Construction Group's previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, June 4th. North American Construction Group's dividend payout ratio is presently 33.66%.
North American Construction Group Company Profile
(
Free Report)
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.
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