Polar Asset Management Partners Inc. Sells 217,336 Shares of North American Construction Group Ltd. $NOA

Key Points

• Polar Asset Management cut its North American Construction Group position by 41.2%, selling 217,336 shares during the first quarter and retaining 310,000 shares valued at approximately $4.18 million.
• Institutional ownership remains high at 74.99%, although other firms including Lazard, Arrowstreet Capital and Dimensional Fund Advisors increased their positions during the quarter.
• NOA traded at $13.94, while the company’s quarterly dividend of $0.12 per share implies a 3.4% annualized yield. Analysts collectively rate the stock “Hold”, with a consensus price target of $25.75.

Polar Asset Management Partners Inc. trimmed its position in shares of North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 41.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,000 shares of the oil and gas company's stock after selling 217,336 shares during the period. Polar Asset Management Partners Inc. owned approximately 1.09% of North American Construction Group worth $4,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC grew its holdings in shares of North American Construction Group by 259.5% in the first quarter. Lazard Asset Management LLC now owns 58,124 shares of the oil and gas company's stock valued at $784,000 after purchasing an additional 41,954 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in North American Construction Group by 65.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company's stock valued at $5,430,000 after purchasing an additional 158,731 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in North American Construction Group by 35.6% during the first quarter. Dimensional Fund Advisors LP now owns 200,248 shares of the oil and gas company's stock valued at $2,699,000 after purchasing an additional 52,605 shares during the last quarter. Morgan Dempsey Capital Management LLC purchased a new position in shares of North American Construction Group in the 1st quarter worth $257,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of North American Construction Group in the 1st quarter worth $612,000. 74.99% of the stock is currently owned by institutional investors.

North American Construction Group Stock Up 0.1%

NYSE NOA opened at $13.94 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 1.80. North American Construction Group Ltd. has a 52 week low of $12.07 and a 52 week high of $17.26. The firm has a market capitalization of $388.54 million, a price-to-earnings ratio of 17.64 and a beta of 1.06. The company has a fifty day moving average of $13.72 and a two-hundred day moving average of $14.53.

North American Construction Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Wednesday, June 3rd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.4%. North American Construction Group's payout ratio is currently 44.30%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NOA. BMO Capital Markets restated a "market perform" rating on shares of North American Construction Group in a report on Thursday, May 14th. ATB Cormark Capital Markets lowered North American Construction Group from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a "hold (c-)" rating on shares of North American Construction Group in a research report on Tuesday, June 9th. Zacks Research cut North American Construction Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 9th. Finally, Roth Capital restated a "buy" rating and set a $27.50 price objective on shares of North American Construction Group in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, North American Construction Group presently has an average rating of "Hold" and a consensus target price of $25.75.

North American Construction Group Company 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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