NewGen Asset Management Ltd bought a new stake in North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 200,000 shares of the oil and gas company's stock, valued at approximately $4,170,000. North American Construction Group accounts for about 2.1% of NewGen Asset Management Ltd's holdings, making the stock its 16th largest position. NewGen Asset Management Ltd owned 0.75% of North American Construction Group at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in North American Construction Group by 1.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,395,919 shares of the oil and gas company's stock worth $29,143,000 after acquiring an additional 14,109 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in North American Construction Group by 101.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,500 shares of the oil and gas company's stock valued at $11,819,000 after purchasing an additional 274,600 shares during the period. Fiera Capital Corp increased its stake in North American Construction Group by 5.8% in the third quarter. Fiera Capital Corp now owns 526,690 shares of the oil and gas company's stock valued at $11,444,000 after purchasing an additional 28,897 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of North American Construction Group by 24.3% during the third quarter. Acadian Asset Management LLC now owns 391,650 shares of the oil and gas company's stock worth $8,479,000 after purchasing an additional 76,522 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in North American Construction Group by 325.9% during the third quarter. Quadrature Capital Ltd now owns 299,400 shares of the oil and gas company's stock worth $6,551,000 after acquiring an additional 229,100 shares in the last quarter. Institutional investors own 74.99% of the company's stock.
Analysts Set New Price Targets
Several research firms recently commented on NOA. TD Cowen raised shares of North American Construction Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 18th. StockNews.com cut shares of North American Construction Group from a "buy" rating to a "hold" rating in a research note on Friday.
Get Our Latest Stock Analysis on North American Construction Group
North American Construction Group Stock Down 0.8 %
NOA stock traded down $0.16 during mid-day trading on Friday, reaching $20.47. The company had a trading volume of 50,825 shares, compared to its average volume of 70,086. North American Construction Group Ltd. has a 52 week low of $18.02 and a 52 week high of $26.30. The company has a market capitalization of $547.37 million, a price-to-earnings ratio of 15.51 and a beta of 1.52. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.04 and a quick ratio of 0.71. The stock has a 50 day simple moving average of $22.81 and a two-hundred day simple moving average of $21.88.
North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.01). The firm had revenue of $220.33 million during the quarter, compared to analyst estimates of $217.28 million. North American Construction Group had a net margin of 5.21% and a return on equity of 19.48%. During the same quarter in the prior year, the business earned $0.71 EPS. As a group, equities analysts predict that North American Construction Group Ltd. will post 2.84 earnings per share for the current fiscal year.
North American Construction Group Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, May 31st will be given a $0.0726 dividend. This represents a $0.29 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, May 31st. North American Construction Group's payout ratio is presently 21.97%.
About North American Construction Group
(
Free Report)
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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