North American Construction Group Ltd. $NOA Shares Bought by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. increased its stake in North American Construction Group by 70.3% during the first quarter, accumulating a total of 1,740,985 shares worth approximately $27.58 million.
• North American Construction Group's quarterly earnings report revealed an EPS of $0.24, which fell short of analysts' expectations, with revenues of $235.51 million exceeding estimates.
• The company announced an increase in its quarterly dividend to $0.0872 per share, reflecting a 2.6% dividend yield on an annualized basis.

Polar Asset Management Partners Inc. raised its stake in North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 70.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,740,985 shares of the oil and gas company's stock after acquiring an additional 718,884 shares during the period. North American Construction Group accounts for approximately 0.6% of Polar Asset Management Partners Inc.'s portfolio, making the stock its 29th largest position. Polar Asset Management Partners Inc. owned approximately 5.69% of North American Construction Group worth $27,577,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NOA. Tranquility Partners LLC boosted its stake 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 in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in North American Construction Group in the fourth quarter valued at $295,000. Nuveen LLC acquired a new position in North American Construction Group in the first quarter valued at $395,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in North American Construction Group by 4.9% in 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 valued at $451,000 after acquiring an additional 974 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in North American Construction Group by 23.6% in the fourth quarter. Lazard Asset Management LLC now owns 21,628 shares of the oil and gas company's stock valued at $467,000 after acquiring an additional 4,126 shares in the last quarter. Institutional investors and hedge funds own 74.99% of the company's stock.

North American Construction Group Price Performance

Shares of NYSE:NOA opened at $13.49 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. The company has a market cap of $406.98 million, a P/E ratio of 15.50 and a beta of 1.23. North American Construction Group Ltd. has a 52 week low of $12.12 and a 52 week high of $22.08. The company has a 50-day moving average price of $14.95 and a 200 day moving average price of $15.95.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last announced its quarterly earnings data on Wednesday, August 13th. The oil and gas company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.42). The firm had revenue of $235.51 million during the quarter, compared to analyst estimates of $231.51 million. North American Construction Group had a net margin of 2.82% and a return on equity of 17.15%. Research analysts predict that North American Construction Group Ltd. will post 2.56 earnings per share for the current year.

North American Construction Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, August 29th will be given a $0.0872 dividend. The ex-dividend date is Friday, August 29th. This is an increase from North American Construction Group's previous quarterly dividend of $0.09. This represents a $0.35 dividend on an annualized basis and a yield of 2.6%. North American Construction Group's payout ratio is 40.23%.

Analysts Set New Price Targets

NOA has been the subject of several recent research reports. TD Securities downgraded shares of North American Construction Group from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Canaccord Genuity Group downgraded shares of North American Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 11th. Atb Cap Markets downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. 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. Finally, CIBC downgraded shares of North American Construction Group to a "neutral" rating in a research note on Friday, August 15th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, North American Construction Group presently has a consensus rating of "Reduce".

North American Construction Group 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.

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