North American Construction Group Ltd. (NYSE:NOA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.75.

Several brokerages recently commented on NOA. BMO Capital Markets reiterated a “market perform” rating on shares of North American Construction Group in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of North American Construction Group in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of North American Construction Group in a report on Tuesday, June 9th. ATB Cormark Capital Markets lowered North American Construction Group from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen cut North American Construction Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th.

Institutional Trading of North American Construction Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Intact Investment Management Inc. boosted its stake in North American Construction Group by 368.0% during the 4th quarter. Intact Investment Management Inc. now owns 117,000 shares of the oil and gas company’s stock worth $1,684,000 after purchasing an additional 92,000 shares during the period. Bastion Asset Management Inc. acquired a new position in North American Construction Group in the fourth quarter valued at $8,475,000. CIBC Asset Management Inc raised its holdings in shares of North American Construction Group by 22.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company’s stock valued at $20,812,000 after buying an additional 262,673 shares during the last quarter. Aegis Financial Corp raised its holdings in shares of North American Construction Group by 23.3% in the fourth quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company’s stock valued at $14,967,000 after buying an additional 196,243 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of North American Construction Group during the fourth quarter worth about $3,022,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

North American Construction Group Stock Down 0.5%

Shares of NYSE:NOA traded down $0.07 during trading on Friday, hitting $13.62. 55,311 shares of the company were exchanged, compared to its average volume of 83,634. The firm’s 50 day moving average price is $13.97 and its 200-day moving average price is $14.57. North American Construction Group has a 12-month low of $12.07 and a 12-month high of $17.26. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.11 and a quick ratio of 0.90. The stock has a market capitalization of $381.23 million, a P/E ratio of 17.25 and a beta of 1.06.

North American Construction Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.5%. North American Construction Group’s dividend payout ratio (DPR) is 44.30%.

About North American Construction Group

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.