American Century Companies Inc. Purchases 52,474 Shares of North American Construction Group Ltd. $NOA

Key Points

• American Century Companies Inc. increased its stake in North American Construction Group Ltd. by 20.8%, owning approximately 0.99% of the company valued at $4.8 million.
• The company has experienced multiple rating downgrades from various investment analysts, with an average rating of "Reduce."
• North American Construction Group declared a quarterly dividend of $0.0872, marking a rise from the previous $0.09, with an annualized yield of 2.5%.

American Century Companies Inc. boosted its stake in shares of North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 20.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 304,698 shares of the oil and gas company's stock after buying an additional 52,474 shares during the period. American Century Companies Inc. owned approximately 0.99% of North American Construction Group worth $4,804,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in NOA. National Bank of Canada FI increased its holdings in North American Construction Group by 2.6% during the 1st quarter. National Bank of Canada FI now owns 1,368,520 shares of the oil and gas company's stock worth $21,560,000 after purchasing an additional 34,720 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of North American Construction Group by 3.9% during the first quarter. Mackenzie Financial Corp now owns 899,609 shares of the oil and gas company's stock worth $14,184,000 after buying an additional 34,086 shares during the period. Millennium Management LLC grew its holdings in shares of North American Construction Group by 75.3% during the fourth quarter. Millennium Management LLC now owns 60,274 shares of the oil and gas company's stock worth $1,303,000 after buying an additional 25,889 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of North American Construction Group during the fourth quarter worth about $295,000. Finally, NewGen Asset Management Ltd acquired a new stake in North American Construction Group in the 1st quarter valued at approximately $2,368,000. 74.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NOA shares. Cibc World Mkts downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Wall Street Zen raised shares of North American Construction Group from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Atb Cap Markets downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Zacks Research lowered shares of North American Construction Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. Finally, Canaccord Genuity Group cut shares of North American Construction Group from a "buy" rating to a "hold" rating in a research report on Friday, July 11th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, North American Construction Group has an average rating of "Reduce".

North American Construction Group Stock Performance

Shares of NOA traded down $0.21 during mid-day trading on Wednesday, reaching $13.45. The company's stock had a trading volume of 52,071 shares, compared to its average volume of 90,363. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 1.57. North American Construction Group Ltd. has a 1-year low of $12.12 and a 1-year high of $22.08. The business has a 50-day simple moving average of $15.07 and a two-hundred day simple moving average of $16.01. The stock has a market cap of $405.77 million, a P/E ratio of 15.47 and a beta of 1.23.

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

North American Construction Group Increases Dividend

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

North American Construction Group Company 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.