Orchard Capital Management LLC Acquires New Shares in North American Construction Group Ltd. $NOA

Orchard Capital Management LLC bought a new stake in shares of North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 226,537 shares of the oil and gas company's stock, valued at approximately $3,013,000. North American Construction Group accounts for about 2.9% of Orchard Capital Management LLC's portfolio, making the stock its 12th biggest holding. Orchard Capital Management LLC owned about 0.81% of North American Construction Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can grew its position in shares of North American Construction Group by 3.1% in the fourth quarter. Bank of Montreal Can now owns 2,789,384 shares of the oil and gas company's stock valued at $40,158,000 after purchasing an additional 84,992 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in North American Construction Group by 22.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company's stock worth $20,812,000 after purchasing an additional 262,673 shares in the last quarter. Aegis Financial Corp lifted its holdings in North American Construction Group by 23.3% during the 4th quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company's stock worth $14,967,000 after purchasing an additional 196,243 shares in the last quarter. Bastion Asset Management Inc. purchased a new stake in North American Construction Group during the 4th quarter worth about $8,475,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in 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 worth $5,430,000 after purchasing an additional 158,731 shares during the period. Hedge funds and other institutional investors own 74.99% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of North American Construction Group in a report on Tuesday, June 9th. BMO Capital Markets reissued a "market perform" rating on shares of North American Construction Group in a report on Thursday, August 13th. Roth Capital restated a "buy" rating and issued a $27.50 price objective on shares of North American Construction Group in a research report on Friday, May 15th. Zacks Research raised shares of North American Construction Group from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. Finally, Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of North American Construction Group in a report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, North American Construction Group has an average rating of "Hold" and an average price target of $25.75.

North American Construction Group Stock Performance

NYSE:NOA opened at $14.01 on Friday. The business's 50-day moving average price is $13.68 and its two-hundred day moving average price is $14.36. North American Construction Group Ltd. has a twelve month low of $12.07 and a twelve month high of $17.26. The stock has a market cap of $390.60 million, a P/E ratio of 17.73 and a beta of 1.06. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 2.15.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last posted its quarterly earnings data on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. The company had revenue of $321.22 million for the quarter, compared to analysts' expectations of $246.65 million. As a group, equities analysts predict that North American Construction Group Ltd. will post 1.6 EPS for the current fiscal year.

North American Construction Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, August 28th will be given a $0.12 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.48 dividend on an annualized basis and a yield of 3.4%. North American Construction Group's payout ratio is presently 44.30%.

North American Construction Group Profile

North American Construction Group Ltd NYSE: NOA is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.

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