North American Construction Group Ltd. $NOA Shares Newly Purchased by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates opened a new position in North American Construction Group, buying 167,575 shares worth about $2.0 million, or approximately 0.61% of the company.
• Institutional investors collectively owned 74.99% of the stock, with several other funds also reporting recent purchases or increased holdings.
• Analysts’ consensus rating was Hold, with an average price target of $25.75. The company missed quarterly EPS expectations ($0.17 versus $0.38) but exceeded revenue estimates, and announced a quarterly dividend of C$0.12 per share.

Van Berkom & Associates Inc. bought a new position in shares of North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 167,575 shares of the oil and gas company's stock, valued at approximately $2,024,000. Van Berkom & Associates Inc. owned approximately 0.61% of North American Construction Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Cannell Capital LLC acquired a new position in North American Construction Group during the second quarter valued at approximately $10,423,090. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of North American Construction Group in the second quarter worth $8,029,000. Bank of America Corp DE acquired a new stake in shares of North American Construction Group in the second quarter worth $3,045,000. Orchard Capital Management LLC purchased a new position in shares of North American Construction Group in the 2nd quarter valued at $3,013,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of North American Construction Group by 65.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company's stock valued at $5,430,000 after acquiring an additional 158,731 shares during the period. Hedge funds and other institutional investors own 74.99% of the company's stock.

Analyst Ratings Changes

NOA has been the topic of several recent research reports. Weiss Ratings restated a "hold (c-)" rating on shares of North American Construction Group in a report on Friday, September 4th. Zacks Research upgraded North American Construction Group from a "strong sell" rating to a "hold" rating in a report on Friday, October 16th. Wall Street Zen downgraded North American Construction Group from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. BMO Capital Markets reissued a "market perform" rating on shares of North American Construction Group in a research report on Thursday, August 13th. Finally, ATB Cormark Capital Markets upgraded North American Construction Group from a "hold" rating to a "moderate buy" rating in a research note on Monday, October 26th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $25.75.

North American Construction Group Stock Performance

North American Construction Group stock opened at $9.56 on Tuesday. The firm has a market capitalization of $263.32 million, a PE ratio of -35.43 and a beta of 1.06. North American Construction Group Ltd. has a one year low of $8.56 and a one year high of $17.26. The stock's 50 day moving average price is $12.16 and its 200 day moving average price is $13.82. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.90 and a current ratio of 1.07.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last issued its quarterly earnings data on Wednesday, November 4th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.21). The firm had revenue of $290.24 million during the quarter, compared to analyst estimates of $286.62 million. North American Construction Group had a negative net margin of 0.61% and a positive return on equity of 3.22%. As a group, sell-side analysts expect that North American Construction Group Ltd. will post 0.90 EPS for the current fiscal year.

North American Construction Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Wednesday, November 25th will be paid a C$0.12 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $0.48 annualized dividend and a dividend yield of 5.0%. North American Construction Group's dividend payout ratio is -125.93%.

North American Construction Group Profile

North American Construction Group Inc is a Canadian heavy civil construction and contract mining company serving the resource and infrastructure sectors. The company provides large-scale earthmoving, site development, mine-support and construction services for customers primarily in western Canada.

Its services include contract mining, overburden removal, mine development, heavy civil construction, roadbuilding, reclamation and site preparation. North American Construction Group also provides equipment maintenance, repair and rebuild services, and operates a large fleet of heavy construction and mining equipment to support its projects.

Founded in 1953, the company has developed long-standing expertise in the Canadian oil sands and other resource projects.

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