NewGen Asset Management Ltd Buys New Shares in North American Construction Group Ltd. (NYSE:NOA)

NewGen Asset Management Ltd bought a new stake in shares of North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA in the first quarter, according to its most recent Form 13F 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 about 1.5% of NewGen Asset Management Ltd's portfolio, making the stock its 19th largest holding. NewGen Asset Management Ltd owned about 0.49% of North American Construction Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOA. Claret Asset Management Corp lifted its stake in shares of North American Construction Group by 1.7% during the 4th quarter. Claret Asset Management Corp now owns 2,040,138 shares of the oil and gas company's stock valued at $43,945,000 after buying an additional 33,881 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of North American Construction Group by 13.3% during the 4th quarter. National Bank of Canada FI now owns 1,333,800 shares of the oil and gas company's stock valued at $28,776,000 after buying an additional 156,691 shares in the last quarter. Alberta Investment Management Corp lifted its stake in shares of North American Construction Group by 7.2% during the 4th quarter. Alberta Investment Management Corp now owns 1,057,254 shares of the oil and gas company's stock valued at $22,774,000 after buying an additional 71,454 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of North American Construction Group by 12.8% during the 4th quarter. Bank of America Corp DE now owns 434,014 shares of the oil and gas company's stock valued at $9,379,000 after buying an additional 49,104 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of North American Construction Group by 31.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 427,153 shares of the oil and gas company's stock valued at $9,194,000 after buying an additional 101,400 shares in the last quarter. 74.99% of the stock is owned by institutional investors.

North American Construction Group Price Performance

Shares of North American Construction Group stock traded down $0.01 on Friday, hitting $17.93. 35,215 shares of the company traded hands, compared to its average volume of 70,730. The firm's 50-day simple moving average is $16.22 and its 200 day simple moving average is $17.98. 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 company has a market cap of $527.70 million, a P/E ratio of 12.45 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.

North American Construction Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.086 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.34 annualized dividend and a dividend yield of 1.92%. This is a positive change from North American Construction Group's previous quarterly dividend of $0.08. North American Construction Group's dividend payout ratio (DPR) is currently 33.66%.

Analyst Ratings Changes

Several research firms have issued reports on NOA. Raymond James cut shares of North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of North American Construction Group from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st.

About North American Construction Group

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.